June 23, 2010

It's the little things that lead to the big explosion

It's pretty well established that the popular mood is turning ugly and vicious. I would state that it is doing so with good reason. Reasons such as the Tax Court rejecting the Geithner/Turbo Tax defense for a normal US taxpayer.

Here's the footnote that really twists the knife:

Fn.15: We shall address briefly petitioner's contention that the IRS granted "favorable treatment" in a case involving U.S. Secretary of the Treasury Timothy Geithner, which petitioner described as "incredibly similar" to the instant case. According to petitioner, "there should not be different, or favorable rules for the well-connected". The record in this case does not establish any facts relating to the case to which petitioner refers involving U.S. Secretary of the Treasury Timothy Geithner. In any event, those facts would be irrelevant to our resolution of the issue presented here. Regardless of the facts and circumstances relating to the case to which petitioner refers involving U.S. Secretary of the Treasury Timothy Geithner, petitioner is required to establish on the basis of the facts and circumstances that are established by the record in his own case that there was reasonable cause for, and that he acted in good faith with respect to, the underpayment for each of his taxable years 2005 and 2006 that is attributable to his failure to report self-employment tax.

Here's the thing - it's obvious to pretty much everyone up to and including blind monks in Tibet that Geithner got the treatment he did because of who he was.  I appreciate the Tax Court not wanting to delve into that mess.  But the reality of it is that this is Exhibit 34,293,093 that The Little People are treated differently. 

It's getting ugly out there.  It's going to get worse.

Posted by: alexthechick at 10:37 AM | Comments (8) | Add Comment
Post contains 300 words, total size 2 kb.

Comments are disabled. Post is locked.
13kb generated in CPU 0.0, elapsed 0.0133 seconds.
61 queries taking 0.0081 seconds, 133 records returned.
Powered by Minx 1.1.6c-pink.