Terrible Timothy Geithner TurboTax Joke Comes True, in Front of the Senate
If Treasury Secretary nominee Timothy Geithner didn't wake up with a post-Inaugural party hangover, he's certainly got a headache now.
Barack Obama's choice for Money Czar spent the morning at a hearing grilling in front of the Senate Finance Committee, which had an unending supply of tough questions, like "This bailout thing, what the hell?" and "What is up with you not paying your taxes?" and "Dude, come on, what is the deal with these banks?" and "Seriously, why are you a tax cheat?"
I'm paraphrasing. You get the idea.
Geithner skipped and dodged the best he could, but one shocking revelation managed to escape…
Sen. Chuck Grassley: "Did you use tax software to prepare your taxes?"
Geithner: "Yes, I did."
Grassley: "Which brand of tax software?"
Geithner: "I will answer that, but I want to say I take full responsibility. … It was TurboTax."
No word yet, though, on whether Tim Geithner actually drinks Scotch on the rocks while he's doing his taxes.
Or whether he'll make it a double when he blames a bad PowerPoint for the bailout failures.
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[...] wine as a business expense? What about the dancers?" "Are Tim Geithner's employees allowed to utter the words 'turbo' and 'tax' in the same sentence when their boss is in [...]
Turbo tax asks you for any forms of income in their computer. You have to ignore the question to prepare your return without listing all income. Geithner can also go to Turbo Tax and they agree in their written guarantee, 'If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.' We should all email Turbo Tax and let them know they have an error in their software. I'm really surprised that Turbo Tax did not come out with the fact that their program will not allow you to omit income, unless of course you want to avoid the tax and simply not declare it.
Imagine, a tax-loving liberal that doesn't want to pay his own taxes
"the Obama administration undertook to assure lawmakers that it would spend the remaining money prudently and with greater oversight than the Bush administration."
Um, how many times will we hear "Oops, that was an oversight"?
I find it *EXTREMELY* hard to believe that he forgot $34,000 in owed taxes…. even with Turbo Tax.
I thought Geithner said his accountant did it! But if it was turbotax, how did G. bypass the built-in checks and audits. (TTax as part of "final review" will notify you of errors in your return before you get to printAnswer: G. must have overridden the final internal TTax audit. Conclusion: He was deliberately trying to scam the IRS.
Signed a perennial TTax user.