Friday, January 16, 2009
I was originally impressed with this Geithner guy, now not so much. He took off, for child care, from his 1040, the cost of sending a kid to camp. BS; it isn't an applicable charge to the credit. The credit tapers at his income level, 300K+. He didn't pay M-care and Social Security on the income from the IMF. I do my taxes; and I know that. A person is as likely to 'do their taxes' without tax preparation software as a student is to do a term paper with a typewriter. Anytime you change a number this triggers a cascade of changes which it makes the preparation time 3 x as long. The IRS adds the numbers itself; so he would have heard from them earlier otherwise. What he would have done is overridden the advice of the software. A candidate for Secretary of Treasury makes these 'innocent mistakes;' come 'on. Obama's comments are in the service of denial. Free Exchange, link left, has some other critical views.