Thursday, September 11, 2008

Charlie Rangel in heat with IRS

Did you know that Charlie Rangel chairs the committee that writes the tax laws?

Did you also know that he is also in trouble with the IRS because he failed to report rental income he received over the past 20 years? This smells like tax evasion to me, especially when you consider the fact he underreported his income by $75,000. The property is not located in the US, but that doesn't stop the IRS from taxing the income received since the owner is a US citizen. Charlie Rangel should know that.

Charlie Rangel's excuse is that he didn't know he was supposed to report the income. C'mon Charlie, is that the best excuse you could use? Then, he blames his accountant for not advising him to include the rental income on the returns.

Sorry, Charlie, but I don't buy your excuses. You should know - since you write the tax laws - that it's not the accountant who is responsible for the information on the return - it is the taxpayer. You should also know that the income should have been included on your return - since you write the tax code.

...just another example of poor ethics from Mr. Rangel.

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