Thursday, November 19, 2009

Another Obama Treasury Department Nominee Had a Tax Problem

This would make at least five Obama nominees with tax 'issues' so far. By 'issues' I mean failure to pay their taxes. Lael Brainard, Obama's nominee for undersecretary of the Treasury for international affairs, is now current with her taxes but was not when she was nominated. (via) (bold mine)

"President Barack Obama's choice for a top job in the Treasury Department did not disclose all of her late tax payments until she was repeatedly prodded by Senate investigators, a congressional report issued Wednesday said.

Obama's nominee for undersecretary of the Treasury for international affairs, Lael Brainard, is the fifth presidential nominee to reveal tax issues during the congressional vetting process.

Brainard was late in paying real estate taxes in 2005, 2006 and 2007 on property in Northern Virginia, according to the report by the Senate Finance Committee staff.

The report also challenges the accuracy of a deduction Brainard claimed for running an office from her home. The challenge led Brainard to reduce the deduction on her 2008 return, though she declined to adjust returns for 2005, 2006 and 2007, telling committee staff she used a reasonable method to calculate the deductions.

Brainard paid most of the late property taxes before she was nominated, in March. However, she told the committee that she realized after her nomination that her 2008 property taxes had not been paid. They were paid in September, the report said.

Brainard is current in all her taxes, said Treasury spokesman Andrew Williams.

Past related posts:
Berman Post: Civil Disobedience Against Geithner?
Berman Post: Obama's Chief Vetter Has a Tax Problem
Berman Post: Obama Trade Nominee Ron Kirk Owes Back Taxes
Berman Post: Another Obama Nominee Another Tax Issues
Berman Post: Another Obama Appointee Has Tax Problems
Berman Post: Tax 'Issues' For Sotomayor?

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