Sarah Palin's Tax Return

[struggle4progress]

hot document from: Bonnie Goldstein
Posted Monday, Oct. 6, 2008, at 3:01 PM ET

... Although Gov. Palin's salary raised the couple's adjusted gross income last year to $166,000 — a big jump from the $128,000 the two declared in the previous tax year — the Palins' charitable contributions dropped from $4880 to $3325 ....

The tax return does not include the per diem travel payments Gov. Palin received for being away from her duty station in Juneau, the state capital, to work out of a state office in Anchorage. Tax experts contend the reimbursements .. are taxable, but the campaign disagrees.

... the couple applied for and received a filing extension in both 2006 and 2007 (Page 7). Even with the extension, the Palins' tax returns were two weeks overdue when John McCain invited Mrs. Palin onto the presidential ticket on Aug. 30 ... Soon after, the Palins met with their tax preparer .. and filed on September 3. The Palins declined to check a box to donate $3 to the presidential election campaign ...

http://www.slate.com/id/2201650/entry/0/

[kernelfarmer]

1. WTF?

"— the Palins' charitable contributions dropped from $4880 to $3325 ...."



WTF? Don't good Christians tithe?

[TahitiNut]

2. When I was given a per diem for business travel expenses, ....

... it was required that I itemize my actual expenses for the travel, subtract the per diem reimbursements, and deduct the remainder (if any) as "miscellaneous employee business expenses" or account for the excess (if any) as an income adjustment. As I recall, it wasn't something one could ignore.

Then again, the IRS never cut me a break for being a "Friend Of the President's Party."

[4 t 4]

3. Hehehehehheheh

The Palins declined to check a box to donate $3 to the presidential election campaign ...

[olshak]

4. Depends on the state...

....in Illinois, I am not taxed on my per diem expenses.

[TahitiNut]

6. I don't believe Federal IRS rules vary between states.

:shrug:

[gratuitous]

5. Disgusting

I make a third of what the Palins made in 2007, and made three times the charitable donations they made (yes, more than 20% of my gross income), and I was unemployed and underemployed for about one third of the year. I really don't want to hear any of her yammer about being a good church-going person who has the prerogative to condemn me to hell for wanting to see full participation of gays and lesbians in society at large and in congregational life.

[Liberal In Texas]

7. Hmmm, you know the IRS pays a reward for turning in tax cheaters....just sayin'.

The Internal Revenue Service (the "IRS") has a formal policy that can reward informants for turning in tax cheats. Informants to the IRS can get cash rewards based on the value of the information they furnish. Here are IRS guidelines for determining awards:

If your evidence was sufficient enough to begin an investigation and it leads to a recovery - you obtain 10% of the first $75,000, 5% of the next $25,000 and 1% of the remainder.

If your evidence was helpful, though not specific, in determining liability, the award is 5% of the first $75,00, 2.%% of the next $25,00 and 1/2 of 1% of any additional recovery.

If your evidence triggered an investigation, but did not help to establish liability, the award is 1% of the first $75,000 recovered and 1/2 of 1% of the rest.

The maximum reward is $100,000 which equates to a recovery by the IRS of approximately $9 million.