November 15, 2008
Rangel Hires Accountant to Scrub Tax Returns
Embattled House Ways & Means Chair Charles Rangel has hired an accounting firm to scrub his tax returns to look for additional errors:
I wonder if the accounting firm will charge less than Lanny Davis and the tax lawyers at Orrick, Herrington & Sutcliffe -- $120,000, paid for by Rangel's election committee (in possible violation of rules prohibiting the use of campaign funds for personal purposes):
Prior TaxProf Blog coverage:
- More Rangel Tax Troubles: Untaxed Free Parking (9/18/08)
- Rangel Refuses to Step Down as Ways & Means Committee Chair (9/16/08)
- NY Times: Rangel Should Resign as Ways & Means Chair (9/15/08)
- Rangel Episode Shows Need to Audit Tax Returns of Ways & Means Committee (9/10/08)
- Rangel Failed to Report $75k Rental Income From Second Home (9/5/08)
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Tracked on Nov 17, 2008 10:37:12 AM
I could have reviewed and amended every tax return for the past 20 years and given Rangel change, lots of it...
Never hire a lawyer to do work that should be done by an accountant.
Posted by: save_the_rustbelt | Nov 15, 2008 10:32:26 AM
maybe Rangel knows that the problem he really has is one that needs lawyers. Just sayin'.
Posted by: Kevin R. C. O'Brien | Nov 15, 2008 3:00:27 PM
You need to have the means to find the ways.
Posted by: Dan Collins | Nov 15, 2008 3:57:33 PM
Never hire an accountant to do accounting work that may need the protection of the attorney-client privilege.
Posted by: lonestar78730 | Nov 15, 2008 6:55:59 PM
I'm a CPA, but if we need attorney-client privilege, then I have the client hire the attorney to hire me. But, I have higher standards than to accept Rangel as a client.
Posted by: Woody | Nov 16, 2008 3:44:09 PM
I am shocked and surprised that Rangel did not voluntarily pay higher taxes during those years, by simply reporting more income than he thought he actually received, since we all know that it is patriotic for those making six-digits in income to pay more in taxes.
Posted by: Conan the Electrician | Nov 17, 2008 11:04:54 AM