Did You Know...

**Written by Doug Powers

Sorry Charlie, but I’ve already gotten my tax advice for this year from Tim Geithner and Wesley Snipes:

Rep. Charlie Rangel isn’t backing down from anything after his censure by the House last year — including offering tax advice.

Among the ethics violations for which the Harlem Democrat was punished by his colleagues just before Christmas was failing to pay taxes on his DominIcan villa. But Rangel nevertheless just emailed his latest “Rangel Report” featuring tax advice for constituents.
[...]
Rangel had to pay some $2 million in legal fees to fight the ethics charges against him, and was forced to give up his chairmanship of the tax-writing Ways and Means Committee.

In the tax case, he failed to declare income from his Dominican villa, and had to pay about $10,000 in penalties and back taxes.

He also had to assure ethics investigators that he would pay back anything that the IRS couldn’t go after because it was older than the statute of limitations.

Rangel’s #1 tip for staying out of prison after you’ve been in as much tax trouble as he has: Get elected to Congress (also be sure to use form 1040-SLEE-Z).

**Written by Doug Powers

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