Thoughtful Thursday – Dying and Paying Taxes

taxesI think you know that old saying that goes: There are only two things you have to do – die and pay taxes.

Unfortunately, it seems that the paying taxes part only applies to you and me while some people are able to make “careless mistakes”.

Case in point — Our new Secretary of the Treasury Timothy Geithner who said he hadn’t paid some taxes on time due to “careless mistakes.” According to an article in The Guardian, after a 2006 audit Geithner paid arrears on his 2003 and 2004 returns, but not immediately on his 2001 and 2002 returns. Apparently the three year statute of limitations had run on those. He did eventually pay them — after his nomination to the post.

Hmm . . . Does that mean that if he hadn’t been nominated he wouldn’t have paid them? What do you think?

I recall the IRS sending letters to my daughter when a math error meant she owed them like 5 dollars. The letter came with all kinds of dire warnings about what would be done if the 5 dollars and interest wasn’t paid on time.

So how is it some people get away with not paying thousands? Do you wonder how this happens?

Let me know what you think about the U.S. tax system or your own tax situation if you are not in the U.S. I know that many of you in other countries pay even higher taxes.

0 thoughts on “Thoughtful Thursday – Dying and Paying Taxes”

  1. I paid my taxes on time my whole life. I am proud to say I never cheated on them either. I have finally reached the point where I don’t have to pay taxes cause my income isn’t taxable. It makes me see red when I read about our elected officials try to get away with not paying their taxes. They should be setting a good example by paying on time, not the bad one young people are seeing. Are we sure we want this man over the Treasury Dept? I don’t and that’s a fact. There are a lot of people who are better qualified that should be considered. Now I’ll get off the soap box. Have a great day and hugs to all.

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