If You watch the Tube at this time of the year, when the tax season approaches then year will see the ads for the Turbotax which promises to find you all the deductions you will need to help you get a bigger refund than you would have had without it.
But wait a minute!
Geithner, President Obama’s choice to run the U.S. Treasury and spearhead America’s recovery from its financial crisis, is well on his way to being confirmed after the Senate Finance Committee voted 18-5 Thursday to forward his nomination to the full Senate.
But the endorsement came only after he underwent embarrassing scrutiny for his failure to pay all of his income taxes in 2001 and 2002 — a mistake he blamed on an easy-to-use computer income tax program used by 18 million taxpayers a year.
Geithner said he used the popular software program TurboTax to complete his income tax forms in those two years, and he failed to include self-employment taxes in his federal returns.
He said that, to his recollection, the program did not prompt him to report income and pay self-employment taxes.
“I mistakenly believed that I was meeting my obligations fully, including self-employment taxes, but I did not prepare my returns in a way that caught that mistake initially,” Geithner told the committee, adding, “these are my responsibility, not the tax software responsibility.”
But TurboTax itself says the program is designed for average taxpayers and prompts everyone to report any additional income or wages earned through self-employment.
“The way TurboTax works, we ask you your personal information up front” and “walk you down an interview path that asks you the source of your income,” said Scott Gulbransen, a spokesman for TurboTax. Even if you fill out a W2 tax form from a primary employer, “once you’re done with that it will ask you if you had other sources of income,” he told FOXNews.com.
I guess that we will not see this in any of the Turbotax ads on the boob tube anytime soon eh? Not a shining endorsement of the product huh?
You I always thought that people at his level have an accountant whose job is to hide income. Regardless whether or not TurboTax prompted him, it does say at the end the process that it is your responsibility to ensure the correctness of the return (I know it did because I used TurboTax around the same time). I guess he did not read that like he did not read that statement that he signed every year when he was reimbursed for the taxes.
Oh yeah, at first he paid 2 out of 4 years because the first 2 years were out of the statute of limitations. When he got nominated, suddenly he got a change of heart and paid it all.
What a f****** sleazeball. If this was a republican, he would not have been confirmed… oh wait, I thought I was having a case of deja vu.
My question is, would I have the same opportunity to blame Turbotax for my evasion? And get away with it? do not think so. BTW, thanx for stopping by Terrant always nice to hear from you.