East Texans want to know: What's up with Government officials and their Back Taxes?
POSTED: Thursday, February 19, 2009 - 7:43am
UPDATED: Wednesday, March 17, 2010 - 11:01am
Did Geitner and other Obama nominees get special treatment for taxes owed?
A few confirmations for President Obama's cabinet remain up in the air.
And some of our viewers had questions about the choice of Treasury Secretary—Tim Geithner.
You wanted to know "what's up" with cabinet members getting a break from the IRS?
Treasury Secretary Geithner "did" get audited three years ago.. about taxes while working overseas and had to pay about 17-thousand dollars in taxes and interest.
The IRS waived related penalties once he paid up.
Then, just last year, The Obama Campaign found he didn't pay taxes correctly for 2001 and 2002.
Geithner again paid taxes plus interest; the price tag was almost 26-thousand dollars.
The IRS website shows everyone has to pay any back-taxes with interest just like Geithner did but penalties are often waived once people comply.
They say quote: penalties may be abated if you have reasonable cause.
The official word on why some tax evaders serve jail time is because they don't have the cash or refuse to pay taxes plus interest.
If you have a question you want answered send us an e-mail— to what's-up-at-nbc-56-dot-com.