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President Barack Obama Watch-The SECOND 100 Days 2009

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  • President Barack Obama Watch-The SECOND 100 Days 2009

    Senate Committee Approves Geithner

    By MARTIN CRUTSINGER, AP

    (Jan. 22) - The Senate Finance Committee on Thursday cleared the nomination of Timothy Geithner as treasury secretary despite unhappiness over his mistakes in paying his taxes.
    The committee approved the nomination on an 18-5 vote, sending it to the full Senate for a vote either Friday or next week. President Barack Obama is hoping for quick approval so that the point man for the administration's economic rescue effort can begin work.
    The committee vote came a day after Geithner appeared before the panel to apologize for what he called "careless mistakes" in failing to pay $34,000 in taxes earlier in the decade, when he worked at the International Monetary Fund.


    Geithner paid the back taxes plus interest for the years 2003 and 2004 after being audited by the Internal Revenue Service. But he did not pay taxes he owed for 2001 and 2002, even though he had made the same mistakes for those years, until shortly before he was nominated by Obama last November to be treasury secretary.
    The nomination was expected to win approval by the full Senate, with many lawmakers saying that given the serious economic crisis facing the country, the new president deserved to have the services of a man of Geithner's abilities and experience.

    Geithner has been the head of the Federal Reserve Bank of New York for the past six years and was a key participant in decisions made by the Bush administration to deal with the worst financial crisis to hit the country since the Great Depression.

    All five of the "no" votes on the committee came from Republicans, including the top GOP member of the panel, Sen. Charles Grassley, R-Iowa. Those voting no said that they did not believe Geithner had been candid in his answers on why he failed to pay Social Security and Medicare taxes.

    They said they viewed this as a serious error for an official who would head the agency that oversees the IRS.

    "I am disappointed that we are even voting on this," said Sen. Michael Enzi, R-Wyo. "In previous years, nominees who made less serious errors in their taxes than this nominee have been forced to withdraw."
    Even Democrats who voted for the nomination said they were disappointed in Geithner's actions.


    Sen. Kent Conrad, D-N.D., said that in normal times he would oppose Geithner but "these are not normal times."


    The committee acted on an expedited basis, voting shortly after Geithner submitted to the panel 102 pages of answers to written questions committee members had posed after Wednesday's hearing.
    In response to one of those questions, Geithner pledged that the Obama administration would carry out reforms in the $700 billion financial rescue program. The Bush administration was widely criticized for distributing the first $350 billion from the fund with not enough attention paid to ensuring that banks receiving the money would use it to increase lending. Former Treasury Secretary Henry Paulson had earmarked $250 billion of the first $350 billion to go to purchasing stock in banks as a way of bolstering their balance sheets.
    In answer to one of the committee's questions, Geithner said the new administration planned to require that banks receiving government support "provide detailed and timely information on their lending patterns, broken down by category." Geithner said that public companies will be required to report this information on a quarterly basis.
    Last week, the Senate rejected an effort to block release of the second $350 billion from the rescue fund.
    During his testimony on Wednesday, Geithner said the new administration would release a comprehensive plan within a few weeks providing details on how it planned to combat the financial crisis and current recession, which is already the longest in a quarter century.
    Geithner did not go into detail on what might be in that program but he acknowledged that the administration is considering buying toxic assets now weighing on the balance sheets of many banks.
    In addition to deploying the second half of the $700 billion bailout fund, the administration is pushing Congress to quickly pass an $825 billion-plus economic stimulus program of tax cuts and increased government spending to jump-start the economy.



    <span class="ev_code_RED">What a disappointment already. Why is this man even being considered after this. Reward bad and dishonerable behaviour. So far... there is not any change in values on his part. Tax cheat ok.</span>SECOND

  • #2
    Senate Committee Approves Geithner

    By MARTIN CRUTSINGER, AP

    (Jan. 22) - The Senate Finance Committee on Thursday cleared the nomination of Timothy Geithner as treasury secretary despite unhappiness over his mistakes in paying his taxes.
    The committee approved the nomination on an 18-5 vote, sending it to the full Senate for a vote either Friday or next week. President Barack Obama is hoping for quick approval so that the point man for the administration's economic rescue effort can begin work.
    The committee vote came a day after Geithner appeared before the panel to apologize for what he called "careless mistakes" in failing to pay $34,000 in taxes earlier in the decade, when he worked at the International Monetary Fund.


    Geithner paid the back taxes plus interest for the years 2003 and 2004 after being audited by the Internal Revenue Service. But he did not pay taxes he owed for 2001 and 2002, even though he had made the same mistakes for those years, until shortly before he was nominated by Obama last November to be treasury secretary.
    The nomination was expected to win approval by the full Senate, with many lawmakers saying that given the serious economic crisis facing the country, the new president deserved to have the services of a man of Geithner's abilities and experience.

    Geithner has been the head of the Federal Reserve Bank of New York for the past six years and was a key participant in decisions made by the Bush administration to deal with the worst financial crisis to hit the country since the Great Depression.

    All five of the "no" votes on the committee came from Republicans, including the top GOP member of the panel, Sen. Charles Grassley, R-Iowa. Those voting no said that they did not believe Geithner had been candid in his answers on why he failed to pay Social Security and Medicare taxes.

    They said they viewed this as a serious error for an official who would head the agency that oversees the IRS.

    "I am disappointed that we are even voting on this," said Sen. Michael Enzi, R-Wyo. "In previous years, nominees who made less serious errors in their taxes than this nominee have been forced to withdraw."
    Even Democrats who voted for the nomination said they were disappointed in Geithner's actions.


    Sen. Kent Conrad, D-N.D., said that in normal times he would oppose Geithner but "these are not normal times."


    The committee acted on an expedited basis, voting shortly after Geithner submitted to the panel 102 pages of answers to written questions committee members had posed after Wednesday's hearing.
    In response to one of those questions, Geithner pledged that the Obama administration would carry out reforms in the $700 billion financial rescue program. The Bush administration was widely criticized for distributing the first $350 billion from the fund with not enough attention paid to ensuring that banks receiving the money would use it to increase lending. Former Treasury Secretary Henry Paulson had earmarked $250 billion of the first $350 billion to go to purchasing stock in banks as a way of bolstering their balance sheets.
    In answer to one of the committee's questions, Geithner said the new administration planned to require that banks receiving government support "provide detailed and timely information on their lending patterns, broken down by category." Geithner said that public companies will be required to report this information on a quarterly basis.
    Last week, the Senate rejected an effort to block release of the second $350 billion from the rescue fund.
    During his testimony on Wednesday, Geithner said the new administration would release a comprehensive plan within a few weeks providing details on how it planned to combat the financial crisis and current recession, which is already the longest in a quarter century.
    Geithner did not go into detail on what might be in that program but he acknowledged that the administration is considering buying toxic assets now weighing on the balance sheets of many banks.
    In addition to deploying the second half of the $700 billion bailout fund, the administration is pushing Congress to quickly pass an $825 billion-plus economic stimulus program of tax cuts and increased government spending to jump-start the economy.



    <span class="ev_code_RED">What a disappointment already. Why is this man even being considered after this. Reward bad and dishonerable behaviour. So far... there is not any change in values on his part. Tax cheat ok.</span>SECOND

    Comment


    • #3
      Obama moves to reshape US policy by closing Gitmo

      By TOM RAUM and PHILIP ELLIOTT,

      WASHINGTON -President Barack Obama moved quickly Thursday to reshape U.S. national-security policy, ordering the Guantanamo Bay prison camp closed within a year, forbidding the harshest treatment of terror suspects and naming new envoys to the Middle East and Afghanistan-Pakistan. "We have no time to lose," he said at the State Department as he welcomed newly confirmed Secretary of State Hillary Rodham Clinton to help him forge what he called "a new era of American leadership" in the world.
      He said his administration is committed to lead. "We can no longer afford drift, and we can no longer afford delay, nor can we cede ground to those who seek destruction," he said.
      On his second full day in office, Obama moved to reverse some of the most contentious policies of his predecessor, George W. Bush.
      By ordering shut the prison camp at Guantanamo Bay, Cuba, closing any remaining CIA secret prisons overseas and banning harsh interrogation practices, Obama said he was signaling that the U.S. would confront global violence without sacrificing "our values and our ideals."
      "First, I can say without exception or equivocation that the United States will not torture," he said. "Second, we will close the Guantanamo Bay detention camp and determine how to deal with those who have been held there."
      The president and Clinton jointly announced the appointment of former Senate Majority Leader George Mitchell, a veteran troubleshooter who helped broker peace in Northern Ireland, as special envoy to the Middle East. Former U.N. Ambassador Richard Holbrooke, who helped write the peace deal that ended Bosnia's 1992-95 war, was named special envoy for Pakistan and Afghanistan.
      Obama said he would aggressively seek a lasting peace between Israel and the Palestinians while also always defending Israel's "right to defend itself." He called on Israel and Hamas to take steps aimed at ensuring that the cease-fire that's in place in Gaza will endure.
      And, citing a "deteriorating situation" in both Afghanistan and Pakistan, Obama said that region is now "the central front" in the battle against terrorism and extremism.
      "There, as in the Middle East, we must understand that we cannot deal with our problems in isolation," he said.
      Earlier, in signing a series of executive orders in the Oval Office that included closing Guantanamo, Obama said his administration would not "continue with a false choice between our safety and our ideals," a slap at policies pursued by Bush.
      The much-maligned U.S. prison camp would be shut down within a year, in keeping with a frequent Obama campaign promise. The administration already has suspended trials for terrorist suspects at Guantanamo for 120 days pending a review of the military tribunals.
      Congressional Democrats welcomed the moves.
      "President Obama is ushering in a new era of smart, strong and principled national security policies, and Congress stands ready to work with him each step of the way," said Sen. Jay Rockefeller of West Virginia, outgoing chairman of the Intelligence Committee.
      But there was skeptical questioning from Republicans. House Minority Leader John Boehner was among a group of House Republicans who quickly filed a bill seeking to bar federal courts from ordering Guantanamo detainees to be released into the United States.
      Boehner, R-Ohio, said it "would be irresponsible to close this terrorist detainee facility" before "important questions" are resolved. Boehner said these include where will the detainees go when Guantanamo is closed and how will they be secured?
      White House press secretary Robert Gibbs said such issues would be determined in the coming days.
      "Obviously, what started today was a process," Gibbs said.
      The president set up a task force that would have 30 days to recommend policies on handling terror suspects who are detained in the future and where Guantanamo detainees should be housed once it has closed.
      Obama also signed an order requiring all U.S. personnel to follow the U.S. Army Field Manual while interrogating detainees and told the Justice Department to review the case of Qatar native Ali al-Marri, who is the only enemy combatant currently being held in the U.S.
      Separately, retired Adm. Dennis Blair, Obama's pick to oversee the nation's intelligence agencies, told a Senate confirmation hearing that the manual would no longer be called the Army Field Manual but would be renamed "the manual for government interrogations."
      Blair told the Senate Intelligence Committee the manual also will be reviewed for possible changes. It now outlines 19 legal techniques and forbids nine.
      Blair said he hoped to rebuild trust in the nation's intelligence agencies. These agencies "must respect the privacy and civil liberties of the American people, and they must adhere to the rule of law," he said. As director of national intelligence, Blair will oversee the CIA, National Security Agency and other assorted intelligence units.
      U.S. foreign policy in the new administration will be overseen by four former senators — Obama and Clinton and Vice President Joe Biden, who served together until after this year's election, and Mitchell, who served much earlier as Senate majority leader.

      Comment


      • #4
        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by 4now:
        Obama moves to reshape US policy by closing Gitmo

        By TOM RAUM and PHILIP ELLIOTT,

        WASHINGTON -President Barack Obama moved quickly Thursday to reshape U.S. national-security policy, ordering the Guantanamo Bay prison camp closed within a year, forbidding the harshest treatment of terror suspects and naming new envoys to the Middle East and Afghanistan-Pakistan. "We have no time to lose," he said at the State Department as he welcomed newly confirmed Secretary of State Hillary Rodham Clinton to help him forge what he called "a new era of American leadership" in the world.
        He said his administration is committed to lead. "We can no longer afford drift, and we can no longer afford delay, nor can we cede ground to those who seek destruction," he said.
        On his second full day in office, Obama moved to reverse some of the most contentious policies of his predecessor, George W. Bush.
        By ordering shut the prison camp at Guantanamo Bay, Cuba, closing any remaining CIA secret prisons overseas and banning harsh interrogation practices, Obama said he was signaling that the U.S. would confront global violence without sacrificing "our values and our ideals."
        "First, I can say without exception or equivocation that the United States will not torture," he said. "Second, we will close the Guantanamo Bay detention camp and determine how to deal with those who have been held there."
        The president and Clinton jointly announced the appointment of former Senate Majority Leader George Mitchell, a veteran troubleshooter who helped broker peace in Northern Ireland, as special envoy to the Middle East. Former U.N. Ambassador Richard Holbrooke, who helped write the peace deal that ended Bosnia's 1992-95 war, was named special envoy for Pakistan and Afghanistan.
        Obama said he would aggressively seek a lasting peace between Israel and the Palestinians while also always defending Israel's "right to defend itself." He called on Israel and Hamas to take steps aimed at ensuring that the cease-fire that's in place in Gaza will endure.
        And, citing a "deteriorating situation" in both Afghanistan and Pakistan, Obama said that region is now "the central front" in the battle against terrorism and extremism.
        "There, as in the Middle East, we must understand that we cannot deal with our problems in isolation," he said.
        Earlier, in signing a series of executive orders in the Oval Office that included closing Guantanamo, Obama said his administration would not "continue with a false choice between our safety and our ideals," a slap at policies pursued by Bush.
        The much-maligned U.S. prison camp would be shut down within a year, in keeping with a frequent Obama campaign promise. The administration already has suspended trials for terrorist suspects at Guantanamo for 120 days pending a review of the military tribunals.
        Congressional Democrats welcomed the moves.
        "President Obama is ushering in a new era of smart, strong and principled national security policies, and Congress stands ready to work with him each step of the way," said Sen. Jay Rockefeller of West Virginia, outgoing chairman of the Intelligence Committee.
        But there was skeptical questioning from Republicans. House Minority Leader John Boehner was among a group of House Republicans who quickly filed a bill seeking to bar federal courts from ordering Guantanamo detainees to be released into the United States.
        Boehner, R-Ohio, said it "would be irresponsible to close this terrorist detainee facility" before "important questions" are resolved. Boehner said these include where will the detainees go when Guantanamo is closed and how will they be secured?
        White House press secretary Robert Gibbs said such issues would be determined in the coming days.
        "Obviously, what started today was a process," Gibbs said.
        The president set up a task force that would have 30 days to recommend policies on handling terror suspects who are detained in the future and where Guantanamo detainees should be housed once it has closed.
        Obama also signed an order requiring all U.S. personnel to follow the U.S. Army Field Manual while interrogating detainees and told the Justice Department to review the case of Qatar native Ali al-Marri, who is the only enemy combatant currently being held in the U.S.
        Separately, retired Adm. Dennis Blair, Obama's pick to oversee the nation's intelligence agencies, told a Senate confirmation hearing that the manual would no longer be called the Army Field Manual but would be renamed "the manual for government interrogations."
        Blair told the Senate Intelligence Committee the manual also will be reviewed for possible changes. It now outlines 19 legal techniques and forbids nine.
        Blair said he hoped to rebuild trust in the nation's intelligence agencies. These agencies "must respect the privacy and civil liberties of the American people, and they must adhere to the rule of law," he said. As director of national intelligence, Blair will oversee the CIA, National Security Agency and other assorted intelligence units.
        U.S. foreign policy in the new administration will be overseen by four former senators — Obama and Clinton and Vice President Joe Biden, who served together until after this year's election, and Mitchell, who served much earlier as Senate majority leader. </div></BLOCKQUOTE>

        <span class="ev_code_RED">Sends a clear message to our enemies that you can gleefully kill us but we won't torture you. </span>
        If Democrats Had Any Brains, They'd Be Republicans

        Democrats - Brave enough to KILL our unborn, just NOT our ENEMIES!

        Comment


        • #5
          <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">All five of the "no" votes on the committee came from Republicans, including the top GOP member of the panel, Sen. Charles Grassley, R-Iowa. Those voting no said that they did not believe Geithner had been candid in his answers on why he failed to pay Social Security and Medicare taxes. </div></BLOCKQUOTE>
          Well, as long as he has paid the tax, I still do not see a problem. The system worked even though it took a couple of years for the IRS to complete its examination process.

          As for the paying of social security and medicare taxes on exempt income from international organizations, this has been a debatable subject in the AICPA community. Even though the code is clear that wages from the IMF or other international organization is exempted from paying of tax. (E.O. 9698). However, tax treaties may also play an important role whether a US citizen may have to pay or may not have to pay self employment tax. Or, under 5 USC 3582, individuals who work for the federal or state agency and then transfers to an international organization can be treated as wages under SECA if certain conditions are met. You see, it is not such a clear and cut dry answer whether one pays self employment tax on income from an international organization.

          IRS Persons Employed by a Foreign Government or International Organization - FICA.
          "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

          Comment


          • #6
            <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
            As long as he paid? Giving legal short shrift when convenient I see. Ignorance is by no means a defense. He specifically asked for and received a loan to pay the then known taxes. But alas, he forgot what he borrowed the money for and spent it on something else.

            Perhaps this man exemplifies the leading indicator in this administration. Its only a crime if you get caught. Ain't that right? </div></BLOCKQUOTE>
            Please provide a link on where "he borrowed the money?" Or are you referring to what IMF provides to American citizens when they get hired.

            The problem is that not all American citizens have to pay the social security and medicare tax on their income if they do not meet 5 USC 3582 or if those same services is not considered self employment income. That stuffer the IMF provides does not guarantee whether one pays or does not pay.

            Furthermore, he admitted using a very popular tax software to do his taxes. The problem here is if you misinterpret the question in the software, then the result will be wrong. YOu will not know it until the IRS sends you a letter. Now, most people will now wonder whether their software complies with US tax law or should they now seed a "tax professional." This puts most Americans, including you Davdah, in a very precarious situation. Should you trust the software which you might pay $50 or %90; or should you now go seek a tax consultant and pay #200, $300, or up to $800 depending on how complicated your return should be. And then what about those tax factories like H&R block or Jackson Hewitt? Should they now be trusted?

            Finally, Republicans will use this nomination as a rallying cry to "simplify the tax code" while Democrats will use this to show the Republicans as obstructionists. Politics as usual in Congress.

            So, lets look at the facts Davdah, He files his taxes but does not pay Social security and medicare. He uses his tax software to do his return. He answers a question or two incorrectly; thus making his return incorrect. He then files his return. The IRS computer accepts this without any math errors. The reason is that you still put those international organization wages on line 7 of the tax return and file the Schedule SE with the return, if required. In other words, if line 12, income from profit or loss (Attach Sch) and no schedule SE is shown, the IRS computers will catch this, ask for the Schedule SE and recompute the total tax correctly. But since it was the former, then the IRS audits come into play a year or two later. He agrees, apys the tax for all four years, with interest, and asks for penalties to be waived, which is now possible under RRA 98.
            "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

            Comment


            • #7
              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
              No, he borrowed the money to pay those taxes way back when. Its something they do for you when working for the IMF as a 1099.

              He didn't forget to claim exemptions on his return that year that had to do with his work there. Odd. Lets forget the earnings but not the deductions.

              If he 'forgot' something as simple as 1099 tax rules should he or can he be trusted with the treasury? In that case I'm going to forget the earnings from rentals. Or maybe from the main business. How about the stock market gains? I don't 'have' to report those, do I? Geithner acquired selective amnesia. Why can't I? </div></BLOCKQUOTE>
              Davdah,
              Compensation from international organizations are reported on Line 7 of the Form 1040. You do not get a 1099 or even a W-2 from an international organization, even if working in the U.S. because international organizations are exempt under federal law from withholding requirements. That is why it is a complicated situation. Furthermore, as compensation for his services, international organizations do provide thieir portion. This is not a loan. The statemwent from the international organization has a provisoto always consult your tax advisor

              Now, pay close attention on the IRS web site. It states, U.S. citizens and green card holders pay U.S. taxes on their compensation while working in the U.S. They report their compensation as income from wages on line 7 of their Form 1040, U.S. Individual Income Tax Return. The link also shows how to report shows how to report certain expenses on Form 2106, reported as a negative on line 21 and the self employment tax on the Sch SE. It is not that simple especially if he worked abroad.
              "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

              Comment


              • #8
                KILL BABY KILL OH HELL YEAH USE MY MONEY WITHOUT MY APPROVAL TO KILL BABIES KILL....

                Officials: Obama to reverse abortion policy

                WASHINGTON – President Barack Obama plans to sign an executive order ending the ban on federal funds for international groups that promote or perform abortions, officials told The Associated Press on Friday.

                The move, long expected in the Democratic president's first week in office, will be welcomed by liberals and criticized by abortion rights foes.

                The policy bans U.S. taxpayer money, usually in the form of U.S. Agency for International Development funds, from going to international family planning groups that either offer abortions or provide information, counseling or referrals about abortion. It is also known as the "global gag rule," because it prohibits taxpayer funding for groups that even talk about abortion if there is an unplanned pregnancy.

                Also known as the "Mexico City policy," it has been reinstated and then reversed by Republican and Democratic presidents since GOP President Ronald Reagan established it in 1984. President Bill Clinton ended the ban in 1993, but President George W. Bush re-instituted it in 2001 as one of his first acts in office.

                The Democratic official and senior U.S. official who disclosed the plans did so on the condition of anonymity because they were not authorized to pre-empt Obama's announcement.

                Obama was expected to sign the executive order at a low-key event, one day after the 36th anniversary of the landmark Supreme Court ruling in Roe v. Wade that legalized abortion.

                The move was not a surprise as both Obama and Secretary of State Hillary Rodham Clinton, who will oversee foreign aid, had promised to do away with the gag rule during the presidential campaign. Clinton is to visit the U.S. Agency for International Development, through which much U.S. foreign aid is disbursed, later on Friday.

                Obama has spent his first days in office systematically signing executive orders reversing Bush administration policies on issues ranging from foreign policy to government operations. But, save for ending the ban, Obama has largely refrained from wading into ideological issues, perhaps to avoid being tagged a traditional partisan from the outset after his campaign promises to change "business as usual" in the often partisan-gridlocked capital.

                Rather, Obama has chosen to focus initially on issues in which there is consensus across the political spectrum and support from the public, such as closing the prison camp for suspected terrorists at Guantanamo Bay, Cuba, to making government documents more accessible.

                Organizations that had pressed Obama to make the abortion-ban change were jubilant.

                "Women's health has been severely impacted by the cutoff of assistance. President Obama's actions will help reduce the number of unintended pregnancies, abortions and women dying from high-risk pregnancies because they don't have access to family planning," said Tod Preston, a spokesman for Population Action International, an advocacy group.
                If Democrats Had Any Brains, They'd Be Republicans

                Democrats - Brave enough to KILL our unborn, just NOT our ENEMIES!

                Comment


                • #9
                  <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hudson:
                  <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">All five of the "no" votes on the committee came from Republicans, including the top GOP member of the panel, Sen. Charles Grassley, R-Iowa. Those voting no said that they did not believe Geithner had been candid in his answers on why he failed to pay Social Security and Medicare taxes. </div></BLOCKQUOTE>
                  Well, as long as he has paid the tax, I still do not see a problem. The system worked even though it took a couple of years for the IRS to complete its examination process.

                  As for the paying of social security and medicare taxes on exempt income from international organizations, this has been a debatable subject in the AICPA community. Even though the code is clear that wages from the IMF or other international organization is exempted from paying of tax. (E.O. 9698). However, tax treaties may also play an important role whether a US citizen may have to pay or may not have to pay self employment tax. Or, under 5 USC 3582, individuals who work for the federal or state agency and then transfers to an international organization can be treated as wages under SECA if certain conditions are met. You see, it is not such a clear and cut dry answer whether one pays self employment tax on income from an international organization.

                  IRS Persons Employed by a Foreign Government or International Organization - FICA. </div></BLOCKQUOTE>



                  Frankly , I am disapppointed in your response Hudson. YOu are the last person I would have expected to condone Geitner. The man is dishonest and a tax cheat. This was not about not knowing or it being an honest mistake. This was about ... "let me see if I can sneak a cookie and not get caught in the 3yrs for an audit of my return"". Then, if caught, just feign that you didn't know any better. This is not someone that this country needs in the secretary treasury role. This country should not just be turning their head to something as serious as this. He was NOT confused.. and even if he was, should he not have had good sense to have consulted a professional if not within his scope? Liar and Cheat. It is about the character of Geitner. And now, Obama is condoning his actions which points towards serious character flaws of Obama too because he is insisting on having him.

                  And oh.... it wasnt just the SE tax "mistake", there were MORE "honest" mistakes that the audit turned up .

                  http://finance.senate.gov/pres...press/prb011309d.pdf


                  Pay close attention to pages 2 and 3. There is little doubt if any about this.

                  Furthermore, this man appears to be one that is not inclined to detail,or respectful of employment practices or either just thumbs his nose at them. This is not someone who should be heading up such an important position, IMO.


                  Obama Calls it common mistake

                  excerpt from above article....

                  "It is a strange situation," said the Tax Policy Center's Eric Toder, who admitted that he has struggled trying to figure out his own tax obligation when he did some consulting work for the IMF. "You wouldn't know from looking at the tax forms what you are supposed to do."

                  Some Republicans note, however, that the IMF gave ample documentation to its workers about what they should do. The Senate Finance Committee overseeing Geithner's confirmation hearing posted several documents given to Geithner by the IMF designed to help employees understand their tax obligations.

                  For one, there's the IMF Employee Tax Manual given to new hires, which describes how to pay self-employment taxes. The IMF pays additional money to U.S. employees, on top of their regular salary, to offset self-employment taxes, and quarterly and year-end wage statements include the amount of self-employment taxes added to wage income. Lastly, IMF employees are required to annually file a form requesting the self-employment "gross ups" to wages.

                  Still, said Len Burman, director of the Tax Policy Center, "the rules are just really complicated. I suspect this really was just an honest mistake."

                  The Obama campaign hangs its argument that Geithner's was a "common mistake" on a Nov. 17, 2006 document in which the IRS estimates that as many as half the employees of foreign embassies, foreign consular offices and international organizations who are subject to U.S. tax "either fail to report their wages, claim deductions they are not entitled to, incorrectly establish SEP/IRA retirement plans, fail to pay self-employment tax or fail to file tax returns at all."


                  <span class="ev_code_RED">Hmm.. Sounds like we need some new mandates for enforcement. Look at all the money that is getting away that could fund those INTERNATIONAL abortions.</span>

                  Comment


                  • #10
                    These are the "other" "honest errors" that had to be correded when the return was amended.



                    The amended returns contain various other tax adjustments identified during a review of Mr.
                    Geithner's returns. Additional tax of $4,334 and interst of $1,232 applies to these adjustments.

                    Items adjusted include a ten percent early withdarawal penalty on a distribution from a retirement plan maintained by the federal government

                    and a section 179 deduction for equipment used in a business that was discontinued,

                    <span class="ev_code_RED">I suppose he never heard of recapture</span>

                    an additional charitable contribution deduction for non cash items,

                    a reduction in utitlities expense to account for personal use,

                    investment interest expense,

                    and reductions to the dependent child care credit. Mr. Geithner included payments to overnight camps in his dependent cared credit computations for years 2001 , 2004, and 2005.

                    The accountant who prepared his 2006 tax return apprised him that payments to overnight camps were not allowabale expenses for purposes of the credit but he did not file amended returns at the time to correct the prior years.



                    <span class="ev_code_RED">This is a crook and unpatriotic thief. Is this the right man for the job? Just say NO. Character and competence is everything in a job of this proportion!</span>


                    full reading

                    Comment


                    • #11
                      <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by 4now:
                      These are the "other" "honest errors" that had to be correded when the return was amended.



                      The amended returns contain various other tax adjustments identified during a review of Mr.
                      Geithner's returns. Additional tax of $4,334 and interst of $1,232 applies to these adjustments.

                      Items adjusted include a ten percent early withdarawal penalty on a distribution from a retirement plan maintained by the federal government

                      and a section 179 deduction for equipment used in a business that was discontinued,

                      <span class="ev_code_RED">I suppose he never heard of recapture</span>

                      an additional charitable contribution deduction for non cash items,

                      a reduction in utitlities expense to account for personal use,

                      investment interest expense,

                      and reductions to the dependent child care credit. Mr. Geithner included payments to overnight camps in his dependent cared credit computations for years 2001 , 2004, and 2005.

                      The accountant who prepared his 2006 tax return apprised him that payments to overnight camps were not allowabale expenses for purposes of the credit but he did not file amended returns at the time to correct the prior years.



                      <span class="ev_code_RED">This is a crook and unpatriotic thief. Is this the right man for the job? Just say NO. Character and competence is everything in a job of this proportion!</span>


                      full reading </div></BLOCKQUOTE>

                      Hmmmm . . . just wondering if a Republican President would have gotten away with this appointment? Seems ironic the post of Secretary of Treasurer was filled by someone who had their own issues with taxes. Perhaps he and his underlings will be more forgiving of Americans who have problems paying their personal taxes??? If so, I fully support his appointment because the IRS can cause serious nightmares in a person's life.

                      Comment


                      • #12
                        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
                        As a matter of common sense and lets throw in a little bit of moral conscience. Each of us becomes familiar with our work being taxed the moment we get our very first paycheck. Anyone object? </div></BLOCKQUOTE>
                        Davdah, for starters, one does not get a "paystub" each time one is paid. They get a quarterly statement and an annual statement to assist with preparing their tax returns. In other works, no W-2 or 1099 is issued. Federal law exempts IMF and other international organizations from withholding and information return requirements. Even 4now's link acknowledges this.

                        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">With that, how can he claim he forgot. For someone to be the leader of an organization. Shouldn't we expect him to have a bit more knowledge than your average H&R block 90 day tax school grad? </div></BLOCKQUOTE>
                        H&R block, Jackson Hewitt, or other tax factories are not equipped or experienced to answer these questions. Neither is the IRS Customer Call Site at 1-800-829-1040. You know Davdah, the number that one can call to get the "tax experts." If you call customer service and talk to a CSR, you have a 90% chance that the response would be "This is out of scope. Go seek a tax professional." This is why I said that if Geithner used Turbo Tax or similar software, it probably did not do a very good job. The other thing is he is not a tax attorney or a CPA. His degree is not condusve to tax.

                        Only the Big 4 accounting firms and smaller firms who handle international transactions or exclusively represent expats have the on site expertise for such matter. I do not expect you to properly fill out even a 11040 since you cannot even add, subtract, multiply, or divide correctly when you do your own tax return.

                        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Not alone in this corner. Obama himself needed guidance and input during a news conference to explain his exec order for Gitmo. </div></BLOCKQUOTE>
                        What does the Gitmo order have anything to do with Geithner? Even President Bush and John McCain needed help when answering questions. This is a non issue.

                        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Is this the new excuse for failure being floated already? Preemptive ignorance. Slick move. I'll give them that. They can always come back and say. We tried the best we could. We just didn't know what we were doing. We forgot. </div></BLOCKQUOTE>
                        Who said anything about being an excuse. Because of RRA 98, IRS has become more lenient in forgiving penalties. In fact, for first time requests, there does not even have to be an explanation. And first time is defined as no balance dues or requests for the last three years. Keep in mind Davdah, this came from a Republican Congress.
                        "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

                        Comment


                        • #13
                          <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Hmmmm . . . just wondering if a Republican President would have gotten away with this appointment? Seems ironic the post of Secretary of Treasurer was filled by someone who had their own issues with taxes. Perhaps he and his underlings will be more forgiving of Americans who have problems paying their personal taxes??? If so, I fully support his appointment because the IRS can cause serious nightmares in a person's life. </div></BLOCKQUOTE>
                          Proud,
                          Most people have their own issues with taxes. The thing that I see is that this is really a red herring in the argument. What I am surprised about is that 4now should have attacked Geithner on his help the the past stimulus bill, which helped banks get that free money. And if the situation was reversed, then the Republicans would propped Geithner as the poster child for either the National Retail Sales Tax or the Flat Tax while "condoning" his "mistakes." The Democrats would be doing what Davdah and 4now are doing right now.

                          BTW, there have been admistration officials who have or had tax problems, but who remained in office. President Bush was one and so was Spencer Abraham.
                          "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

                          Comment


                          • #14
                            Would love to reply with first hand experience! However cannot. What 4now and Davdah expresses Sounds pretty darn close!!!!
                            USC and Legal, Honest Immigrant Alike Must Fight Against Those That Deceive and Disrupt A Place Of Desirability! All Are Victims of Fraud, Both USC and Honest Immigrant Alike! The bad can and does make it more difficult for the good! Be careful who y

                            Comment


                            • #15
                              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
                              Still drumming excuses. Bottom line is this. There is no excuse. When you are audited aren't you told it is your responsibility to correctly do your taxes? Otherwise, how can fines be justified? With as many people in the same boat at the IMF I'm sure instructions were given to those affected. Obviously so since loans were offered to people to cover upcoming tax liability. He asked for and received a loan to pay those taxes. He was aware of it at the time. He chose not to pay. Simple as that. He is a tax cheat and liar. Good man for the IRS I suppose. You yourself said the assumption you made in the past was each person was a liar and cheat. Here we have one on open display and your squirming for him. No objectivity. </div></BLOCKQUOTE>
                              Davdah, The gross up was NOT A LOAN! Even 4now's link from the Senate states it was not a loan. It was a part of the salary. Working for an international organization has very complicated tax matters that apparently you just cannot comprehend no matter how hard you try. Even the IRS has admitted this. Again, international taxation is some of the most complicated tax code that the IRS has ranging from IRC 901, 911, 972, 988, and others. And given that he is not a tax attorney or CPA and that is why I understand where he is coming from.

                              When you receive the IRS notigication, Publication 556 advises you of your rights. One is that it sis your right to bring a tax professional (CPA or enrolled agent) in or an attorney. You are given an opportunity to present your information of what is being audited, and you are even given a chance to appeal either within the IRS or to the Tax Court. This is an administrative issue. He paid the taxes and interest. Even the IRS auditor told him he could get the penalties waived, which he did.

                              This was not a choice that he did not pay. Given the facts and circumstances, and based on what he said, and that no civil penalites were incurred, this was an honest mistake. But then again, are you not cheating on your taxes too Davdah by claiming that you are a nonresident of California even though you spend a majority of your time in California. I guess lying for your own sake by fraudulently claiming a homestead exemption in Texas makes you an exception.

                              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">What I meant about preemptive ignorance was in reference to the manufacturing of expected imperfection. So when they do screw up, and they will. The emphasis will be on their effort. Not the result. This would never be acceptable in an Republican administration. Personally I think the sour results we are bound to receive are planned. What better way to build a voter base of have nots and create a nanny state then to demolish the economy in its fragile state. </div></BLOCKQUOTE>
                              Nice 180 degree turnaround Davdah. Making excuses for people who should now better. You cannot have it both ways Davdah.

                              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">When Bush had an approval rating of 80+ after 9-11 the Dems were unified in voice that they must question and decent his every move. Supposedly under the guise of being patriotic. Another lie. Now, Obama is saying decent is unpatriotic when it comes to questioning his plan. More so than ever debate is needed. For any politician to say do as I say and don't question requires calling into the open their motives. So much for the promised transparency. </div></BLOCKQUOTE>
                              This is part of the petty politics that I am referring to and why I will never register for any political party. Eemcorats went after Bush because of the Prepublicans went after Clinton, Now the Republicans will go after Obama because the Democrats went after Bush. And the so forth and so forth. Political payback is hell, don't you think Davdah. It is why I believe that we need to rescind part oft he 12th Amendment.

                              <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">You're right 4now. There is no way in hell if it were a repub would the media or the legislature let this one slide. </div></BLOCKQUOTE>
                              No, the situation would be reversed Davdah. The Dems would say, "Another Republican Tax Cheat" and the Republicans would just "make excuses." You will be extremely naive, not to mention totally ignorant, if you did not believe how the arguments would remain the same, just said by different sides.
                              "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence." John Adams on Defense of the boston Massacre

                              Comment



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