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Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

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Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Old 05-14-13, 01:32 AM
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Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

If this information is true, then Barack Obama did indeed cheat on his 2004 federal income tax.


http://www.americanthinker.com/blog/...me_to_irs.html

Did Barack Obama Underreport His Income to IRS?

July 24, 2012

President Barack Obama released his recent personal finance records in 2008, which included his 2004 U.S. Individual Income Tax Return and Senate Annual Finance Report. President Obama's records for 2004 do not reconcile with the State of Illinois Comptroller's Office. There are inconsistencies in the total compensation received as an Illinois State Senator. The largest error likely is President Obama's omission of a "Leadership Stipend" of over $8,000. This stipend should have been recorded as income.

According to the Illinois Comptroller's office, then-State Senator Obama received:

2004 State of IL compensation: $ 52,817.38 (salary)

$ 8,040.01 (leadership stipend)

$ 3,765.00 (per diem)

$ 2,400.00 (mileage)

Stipends for State of Illinois legislators are paid to Senators and Representatives by their respective minority or majority leader. These stipends are not used to support the legislator's living costs, but are used by the leaders as bonuses. Stipends of this sort are taxable income, as they are given to enhance income.

Based on the information from the Illinois Comptroller's Office, Barack Obama's compensation for 2004 should be $60,857 income from the State of Illinois.

Statement 3, on Page 10 of the President's 2004 U.S. Individual Income Tax Return, shows Barack and Michelle Obama's income by source. It shows the "taxpayer" (T), Barack Obama, received $53,288 in wages from the Comptroller of the State of Illinois. This was compensation received for Barack Obama's representation of the 13th District of Illinois as a State Senator.

The total wage and salary income shown on President and Mrs. Obama's 2004 return total $207,342, which is reported as the total on Line 7 of Form 1040. The Obamas' joint return then pays taxes on this $207,647 "adjusted gross income" (including $305 Illinois tax refund).

Barack Obama won a US Senate race in 2004. The US Senate has Annual Financial Disclosure reports for all members. Then-Senator Barack Obama filed his 2004 report on June 5, 2005, exactly three months after his income tax return was completed. The 2004 Annual Financial Report, Barack Obama confirmed his salary compensation for the State of Illinois was $60,287.

In neither his U.S. Individual Income Tax Return, nor his Senate Annual Financial Report for 2004, does Barack Obama report his actual compensation from the State of Illinois. In both cases, Barack Obama has under-reported the income, as certified by the Illinois Comptroller's Office.

The IRS can bring charges of fraud under 26 USC 7206(1) for "fraud or false statements" made to on the U.S. Individual Income Tax Return. This can be prosecuted as a Class E felony, with maximum fines of $100,000 and imprisonment of up to 3 years.

The Senate's Financial Disclosure Statement warns that: "Any individual who knowingly and willfully falsifies, or who knowingly or willfully fails to file this report may be subject to civil and criminal sanctions. It then refers to three laws which may apply: 5 USC app. 6, 104 and 18 USC 1001.

Barack Obama certified that: "the statements I have made on this firm and all attached schedules are true, complete and correct to the best of my knowledge and belief", upon signing this report.

5 USC app. 104 provides the Attorney General to charge an individual with monetary fines and/or imprisonment for knowingly and willfully falsifies this report to Congress. This fine can be as high as $50,000 with imprisonment up to 1 year, a Class A misdemeanor.

18 USC 1001 provides for prosecution for knowingly and willfully false statements to the Federal government. This act allows for unspecified fines or imprisonment up to 5 years. Sentencing guidelines define this as a possible Class E felony.
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Old 05-14-13, 05:34 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

I notice the returns do not include the taxpayer copies of W2 and 1099 forms. If the claimed wages and withholding agree with the W2 (the IRS and the State both check this routinely), I would find it hard to give a shit. If they don't agree, I'd investigate why the IRS didn't notice before (probably too busy hassling conservative groups applying for tax-exempt status . How many of us check whether our W2s agree with the sum of our paychecks?
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Old 05-14-13, 08:12 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Originally Posted by grundle View Post
Did Barack Obama Underreport His Income to IRS?
And what's the grundle answer?
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Old 05-14-13, 08:30 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

And why if this was written in July 2012 are just reading it now? Damn mainstream grundle covering for Obama all this time.
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Old 05-14-13, 08:57 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Did Obama Sacrifice The Family Cockapoo To His Satanic Muslim Overlords? (No)
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Old 05-14-13, 09:18 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

I'm just glad the parenthetical was added in the thread title, else I wouldn't have been able to divine Grundle's implication out of the article title alone.
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Old 05-14-13, 09:24 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

A simply question for Liberals: Has Obama stopped cheating on his taxes? Yes or no only, please.
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Old 05-14-13, 11:42 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Binders full of women! Benghazi is an old story! Big ammo clips! Lalalalalala!
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Old 05-14-13, 01:53 PM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

The return was prepared by an accountant. I know our accountant would take the blame for any mistake like this and cover any fees. I'm guessing the implication by grundle is that Obama either didn't provide the accountant with all of the documents intentionally or that Obama instructed his accountant to omit the stipend so he could pocket a cool hundred or so.
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Old 05-14-13, 05:31 PM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

American "Thinker"?

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Old 05-14-13, 06:06 PM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

From this same site, front page:

May 14, 2013
Obama thinks liberals are stupid
By Sally Zelikovsky

Read more: http://www.americanthinker.com/2013/...#ixzz2TJMFhHmD
Follow us: @AmericanThinker on Twitter | AmericanThinker on Facebook
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Old 05-15-13, 08:20 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Seriously grundle. You need to expand your horizons outside of the conservative echo chamber.
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Old 05-15-13, 08:28 AM
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Re: Did Barack Obama Underreport His Income to IRS? (Did Obama cheat on his taxes?)

Biden just chimed in and said he's going to have the Right Wing Church Nutjob People cover the lost income.

Thanks, Biden.
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