Geithner Defense Fails

Does it really comes as a surprise that the tax court would reject a Timothy Geithner-like Turbotax Defense?

For a copy of the tax court opinion, click here.

Gee, if the Turbotax defense is good enough to persuade Congress, why shouldn't it work for the ordinary Joe? Or Kenneth and Linda? After all, just like Mr. Geithner, Kenneth & Linda failed to include income on a return that was reported to them on a form 1099.

Could a double standard be at work here? Who'd a thunk it? Hope and Change. Not.

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