Geithner Blames Turbo Tax For His Tax Troubles (from
taxprof).
Let’s hope the economy is easier to figure out than TurboTax. That’s the software that Treasury Secretary nominee Timothy Geithner used when he failed to pay about $34,000 in taxes, he admitted this morning in a confirmation hearing that was delayed because of his tax flubs. “I used TurboTax to prepare my returns,” Geithner told the Senate Finance Committee, looking just a little embarrassed, and prompting laughs in the hearing room. He wouldn’t blame the software for his errors, but he didn’t say it helped him spot them, either.
Taxprof adds:
Of course, as any tax professional know, TurboTax (and any of the other leading software programs) easily calculate self-employment tax (as well as the disallowance of a dependent care deduction for the cost of your kids' overnight camps). The errors here were entirely Geithner's, not TurboTax's.
Yeah, I'm crying foul on this one also. I've been using
TurboTax since 1998 and it does everything. Including self-employment tax.
