I thought I would take some time to review what it takes to actually be impeached as a high ranking politician in modern day politics. To evoke bipartisan participation, I have even provided both a Democrat and Republican. It seems to me that both men had ample time to avoid trouble by the initial "sins" they had been charged with, but for whatever reason continued to pile sin after sin after sin to there resume forcing law makers to act.
Case in point is Blagojevich, the former Illinois governor. Originally, he had been under investigation for fund raising issues from a man by the name of Tony Rezko. The charges were that Rezko was trying to extort money from companies dealing with the Illinois state governor Blogojevich. In fact, it not only threatened to take down Blagojevich, it also threatened the former Senator President Obama. However, life went on and Rezko ended up taking the rap. However, Blago was not done. He was then later charged with giving his wife and 7 year old daughter political fund raiser money. Then while under investigation, he then tried to sell Senator Obama's despite all the attention thrown his way. This was the straw that broke the camels back that initiated the impeachment process. Had he simply cooled his jets while being under investigation, I dare say none of this would have come about. It was his arrogance that spurred him on and was the result of his down fall. Ironically, however, the lack of accountability within politics today I think creates such arrogant monsters as Blago.
Conversely, Nixon was tainted because of Watergate. We all know the story, Nixon's administration was linked to burglary charges and later tried to pay off the men to keep quite as well as obstructing justice to cover up the matter. Was this also a result of arrogance? I say had Nixon been taken down to the mat and offered full disclosure all would have been well with the world, however, like his counterpart Blago, he simply could not leave well enough alone. Even at that, Nixon was not even impeached!! In fact, he simply resigned before they could do so and faced no further charges as Ford pardoned him.
So what is the moral to all this? If you are a high ranking political figure, you may do as you please, however, if caught, simply come clean and continue on and all will be well with the world as we see the likes of Geithner doing today. Geithner is the prime example of how it should be handled. "Cheating on my taxes, yea I did that. Sorry" Next thing you know you will be elected or appointed to the office of your desire.
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My ex-wife is a LTC and teaches tax accredation courses as well. Geithner claims that he made an error using Turbo Tax. Having some familiarity with tax preparation by human vs. Turbo Tax, I'm inclined to give him the benefit of the doubt on this one. If your filing is the least bit complicated, Turbo Tax will let you down and the IRS will not give a whit that you weren't a licensed tax professional and have no knowledge of tax law. There are no laws more cryptic than the US tax code.
Originally posted by BadwaterSo do you think if it were you or I that excuse would fly?
My ex-wife is a LTC and teaches tax accredation courses as well. Geithner claims that he made an error using Turbo Tax. Having some familiarity with tax preparation by human vs. Turbo Tax, I'm inclined to give him the benefit of the doubt on this one. If your filing is the least bit complicated, Turbo Tax will let you down and the IRS will not give a ...[text shortened]... ssional and have no knowledge of tax law. There are no laws more cryptic than the US tax code.
Originally posted by whodeyYes. It flew with me and the IRS. I made an error on 2006 taxes due to a merger between two brokerage firms. So I misread the 1099s and under reported the capital gains. IRS then took more than a year to spot this and billed me for tax counting the capital gains as ordinary income, and assessed penalties and interest.
So do you think if it were you or I that excuse would fly?
I filed an amended return to show the tax owed was a lot less due to the income being capital gains. I admitted up front that it was I who made the mistake. I asked them kindly to waive the penalties, knowing they legally cannot waive the interest.
So I wound up paying the tax I should have paid plus a couple hundred bucks interest.
I went through the same drill with the State.
Rather than be cynical about taxation and IRS and admit thereby you are ignorant and unaware of how to navigate through this part of life, a little effort and you can settle matters with not too much difficulty.
To prevent this from happening again, because now my broker is merging twice, I'm giving the whole thing to an accountant. Turbo Tax goes only so far and is fine for simple, straightforward income sources. It is not up to complex investment or transaction matters and one should consult a professional.
The taxpayer with complex income sources who does their own taxes has a fool for an accountant.
Originally posted by ScriabinI have heard horror story after horror story regarding the IRS destroying innocent people over their tax returns and I am sure you have as well. It is hardly the kindly old organization you make it out to be and all I can say is congradulations in dealing with them.
Yes. It flew with me and the IRS. I made an error on 2006 taxes due to a merger between two brokerage firms. So I misread the 1099s and under reported the capital gains. IRS then took more than a year to spot this and billed me for tax counting the capital gains as ordinary income, and assessed penalties and interest.
I filed an amended return to show th ...[text shortened]... The taxpayer with complex income sources who does their own taxes has a fool for an accountant.
BTW: Did you use Turbo Tax when you did your taxes? Geithner does. I say Geithner knew full well what he was doing and used Turbo Tax for the express purpose of defrauding the system in the attempts of getting away with something. In fact, it is my understanding that he was warned by his employer about his errors but did not make the proper adjustments.
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Originally posted by whodeyAnd I say he didn't do it with the express intent of defrauding the system.
I have heard horror story after horror story regarding the IRS destroying innocent people over their tax returns and I am sure you have as well. It is hardly the kindly old organization you make it out to be and all I can say is congradulations in dealing with them.
BTW: Did you use Turbo Tax when you did your taxes? Geithner does. I say Geithner knew ...[text shortened]... ing that he was warned by his employer about his errors but did not make the proper adjustments.
The system, the IRS, is its own twisted entity. Did you know that you are automatically guilty until proven innocent in a federal tax court? Seriously. It's the only kind of civil court where that is the case. The IRS is going to state, with each and every defendant, that they are guilty of defrauding the federal government and in the eyes of the court they are guilty until proven otherwise.
Unless Geithner's employer is a licensed tax preparation firm, and have signed on the dotted line, they would have no business advising him about errors on his tax return. Any such representation is the worst kind of biased speculation.
Originally posted by BadwaterTo put it simply, Geithner worked for the IMF who repeatidly reminds ALL of its employees to pay payroll taxes. Not only did he not do so, he used Turbo Tax so that no tax preparer could demand he do so either.
And I say he didn't do it with the express intent of defrauding the system.
The system, the IRS, is its own twisted entity. Did you know that you are automatically guilty until proven innocent in a federal tax court? Seriously. It's the only kind of civil court where that is the case. The IRS is going to state, with each and every defendant, that they ar ...[text shortened]... ut errors on his tax return. Any such representation is the worst kind of biased speculation.
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Originally posted by whodeyAnd I still stand by what I say and the accuracy of it.
To put it simply, Geithner worked for the IMF who repeatidly reminds ALL of its employees to pay payroll taxes. Not only did he not do so, he used Turbo Tax so that no tax preparer could demand he do so either.