Turbo Tax Blamed For Geithner's Tax Payment Fail

It looks as though the makers of Turbo Tax will have to rush out a "Geithner-proof" edition of their tax-pay software between now and April 15, 2009. MSNBC's First Read has the details of how the company got caught up in the extant concerns over the Treasury nominee's tax problems:

Under questioning from Senate Finance Committee Republican member Chuck Grassley, Geithner was very reluctant to disclose which tax filing software he used. He quickly suggested the software wasn't the problem; he was.

But Grassley pushed back, again asking what software he used. Geithner said, "Turbo Tax." Grassley then asked if Turbo Tax has brought it to his attention that Geithner needed to pay more taxes. Geithner said, "No."

Today is the first day Geithner has publicly discussed the taxes issue. Last week, he explained himself before members of the committee in a closed session and followed up with phones calls to some Republicans on the panel.

Don't worry, though, because the overall outlook is that Geithner's just too much of an indisputable genius in every other field of human endeavor to be without during this "new era of responsibility" (some restrictions apply, void where prohibited, supplies are limited).

It's a sad day for Turbo Tax, which is one of those programs my parents have long insisted I use to manage my own taxes. I have fortunately, always managed to do without the software program, using nothing but "elbow grease" and "bootstraps" and "number two pencils" and the fact that I do not make nearly as much scrilla as Tim Geithner.

Comments

[Peaceisnecessary]

I read an article that reported that most IMF Americans employees during the time period Geithner made the mistake made the same error as he did? It seems that the policy on taxes was not clear.

[run66]

To "Peaceisnecessary": Bunk! Geither at al were advised IN WRITING that they may need to pay taxes on their income. Additionaly, his salary was "marked up" to include those tax costs!
Ignorance is NOT an excuse for Geithner. Maybe you can tell me why he did not pay back taxes for years 2000 and 2001 after being audited for the mistake in subsequent years! Geithenr is a "joke"! When a senator asked him whether he would have paid those taxes if he had NOT been selected by Obama to be the Treasury Secretary, he "dodged" the question - never answering it.
To put this guy as the head of the IRS after he can't figure out his own taxes - even with the help of TurboTax - is ridiculous. Sheila Bair is much more qualified for this position.

[truthseeker7]

What a joke!

The current mouthpiece of the Masters of the Universe used Turbo Tax and did his own taxes. It just goes to show you how little they care what any of us think and how stupid they know we are.

Wake up people. Just like Greenspan was the "Wizard" and no one (except Congressman Henry Gonzalez from TX) questioned him, and just like Citigroup, AIG and B of A with their trillions of gambling losses called derivatives are too big too fail, we will be told that no one but Geithner can shepherd us through this "terrible" mess we are in.

"They" lead us around by a chain through our nose and we don't even know it!

[GhiaccioPronto]

turbo tax to sell new "Geithner-proof" deluxe device with built in lie detector and electric shock prompting

[SEQUOIABISON]

I never heard Mr Geithner Blame Turbo Tax for any mistakes He made, he merely said he used that software, it was his accountant who mistakenly advised him that he did not have to pay the taxes in question, while working at the IMF.

[truthseeker7]

wake up!

[KQuarksSuperKollider]

Exactly. What's the use of transparency and accountability if every time someone does something wrong we are going to subject them to a witchhunt and not judge them on the gravity of their infraction. If it's a huge infraction obviously they should be fired or not confirmed but if it is a small infraction we should encourage openness. That's how conspiracies start people start covering things up big and small because they are afraid even the small mistakes will make them lose their jobs. I challenge anyone on this board to honestly say they never made a mistake in their careers. I know I've made my mistakes even though I've only received one mediocre review in over 20 years in corporate America. But I found that admitting mistakes instead of hiding them got me more respect through the years.

[schatsie]

Ok this fellow made a mistake...­Tell me did he make any mistakes on his expense reports and how much did he get in expenses? i would hate to think that the Federal Reserve paid him $25 grand for a country club membership that excluded blacks....

[MsLiz]

If you have evidence, state it. Otherwise, you are out of order.

[KQuarksSuperKollider]

Please now you are talking about a member of the GOP.

[KQuarksSuperKollider]

The reading comprehension of you tro//s is amazingly low. Geithner took responsibility for his mistakes and he never wanted to name the tax software he used. He answered all the Senator's inquiries honestly.

The hypocrisy of you tro//s criticizing someone acting like an adult and fessing up to their mistakes after eight years of the Bush and Che ney administration not even admitting the smallest of mistake is amazing. I guess you tro//s think Geithner should have went to the I FORGOT card every time congress grills you or does not even answer the questions like Gonzales and Mukasey.

[KQuarksSuperKollider]

forgot

[KQuarksSuperKollider]

low

[KQuarksSuperKollider]

mistakes

[KQuarksSuperKollider]

The reading comprehension of you tro//s is amazingly low. Geithner took responsibility for his mistakes and he never wanted to name the tax software he used. He answered all the Senator's inquiries honestly.

The hypocrisy of you tro//s criticizing someone acting like an adult and fessing up to their mistakes after eight years of the Bush and Cheney administration not even admitting the smallest of mistake is amazing. I guess you tro//s think Geithner should have went to the I FORGOT card every time congress grills you or does not even answer the questions like Gonzales and Mukasey.

[gwats1957]

I've used Turbotax for nearly ten years now. I'm planning to use it again this years. The fees suck, but the IRS always accepts my return. This year, I'm doing a friend's taxes along with my own. The fees suck worse this year, but I won't be audited of ripped off by H&R Block with a phony loan. This guy is really full of Sh*t. The software TOLD HIM he owed money and he failed to pay it, plain and simple. Withdraw your name and let Obama pick someone who PAID his taxes.... Like me.

[mydogshakespeare]

How do you know Turbo Tax "TOLD HIM he owed money"? If Geithner didn't enter the facts regarding the person he hired to watch his kids (or whatever the reason was), then the software could not provide accurate calculations.

I use tax software, too. And guess what? I forgot to enter some mutual fund sales one year. The IRS told me about it a couple of years later. Was it the fault of the software? No... it was me. The software is not at fault for failing to read my mind (or my financial records).

"Garbage in, Garbage out" is an old saying about software and data processing.

[KQuarksSuperKollider]

Geithner said it was his mistake no matter what the software told him.

What a concept personal responsibility.

If it was a Bushie they would just not answer the question or say they forgot the whole event.

[dlswriter]

There is not one person that has filed a perfect tax return. It's impossible. It's like speeding, everybody does it, nobody admits it, and the excuses are infinite.

[StillAmused]

"Overall, the total individual returns audited increased by 7 percent to 1,384,563 in 2007 from 1,293,681 in 2006. That’s the highest number since 1998...

"The IRS increased audits of individual returns with income of $100,000 or more, auditing 293,188 of these returns in 2007, up 13.7 percent from last year’s total of 257,851."

http://www.irs.gov/newsroom/article/0,,id=177701,00.html

Guess that, along with Geithner, we'll just have to pillory the other million-and-a-half offenders. Then, we can abolish the IRS and save a bundle.

What a faux-outrage farce.

[ptarantino]

Baloney.

[plebeianswillrevolt]

Turbo Tax is the most ignorant used-unfriendly software I have seen since the McAfee Virus trash. I would rather not even thing about those nightmares.

[4Q-N4Q2]

Hmmmmm....

The IRS fined me for CHEATING!

Go figure...