Back Taxes Owed by Members of Congress
It seems that those who make the laws aren't always known for setting the best example. A recent report by the IRS on tax compliance by government employees showed that 5.03 percent of House members their employees and 4.44 percent of Senators and their aides owed back taxes or have one or more delinquent tax returns.
The total amount owed by government employees in all agencies totals $2.53 billion. This amount does not include any amounts owed for which an installment agreement has been entered into.
"Our system of taxation relies on voluntary compliance," Charles O. Rossotti, Commissioner of the IRS, wrote in a letter to heads of the various agencies. "Tax delinquency among federal employees can damage the credibility of the tax administration system. If the public perceives that federal employees do not maintain the highest level of tax compliance, public confidence in government will suffer."
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.