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PoliticsBeto O’Rourke appears to have underpaid taxes in 2013, 2014

16:20  16 april  2019
16:20  16 april  2019 Source:   washingtonexaminer.com

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Democratic presidential candidate Beto O ’ Rourke and his wife, Amy, appear to have underpaid their taxes for two years, according to a new report. The couple appear to have underpaid their 2013 and 2014 taxes by more than ,000 because they made a mistake in the way they reported their medical

Democratic presidential candidate Beto O ' Rourke and his wife appear to have underpaid their taxes in 2013 and 2014 because they improperly claimed the deduction for medical expenses, according to.

Beto O’Rourke appears to have underpaid taxes in 2013, 2014

Slideshow by Tribune News Service

Democratic presidential candidate Beto O’Rourke and his wife, Amy, appear to have underpaid their taxes for two years, according to a new report.

The couple appear to have underpaid their 2013 and 2014 taxes by more than $4,000 because they made a mistake in the way they reported their medical expenses, according to an accountant who looked over the returns for the Wall Street Journal.

O’Rourke and his wife, who released their tax returns Monday, took medical expense deductions that were only permitted for medical and dental expenses above 10% of income for people their age. Their taxable income would have increased had they not taken nearly $16,000 in deductions.

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Democratic presidential candidate Beto O ’ Rourke and his wife, Amy, appear to have underpaid their taxes for two years, according to a new report. The couple appear to have underpaid their 2013 and 2014 taxes by more than ,000 because they made a mistake in the way they reported their medical

WASHINGTON—Democratic presidential candidate Beto O ’ Rourke and his wife, Amy, appear to have underpaid their 2013 and 2014 taxes by more than ,000 combined because of an error in the way they reported their medical expenses, according to tax returns the couple released Monday evening.

“After becoming aware of this error, the accounting firm that prepared the filings was immediately informed and will file an amendment as appropriate,” an aide to O’Rourke said.

O’Rourke was a member of Congress from Texas for most of 2013 and all of 2014.

The 2013 tax year was the first that had different income limits for the medical expense deduction. Those limits were based on a taxpayer’s age. If a tax preparer did not enter their client’s age when making the deduction, the tax software automatically made the full deduction, Tony Nitti, a CPA at RubinBrown LLP, told the Wall Street Journal.

Nitti said he made the same mistake during those years.

Several of the 2020 Democratic candidates have voluntarily released years of their tax returns in recent weeks, allowing the public opportunities to pore over the details. President Trump has been under pressure by Democrats in Congress to release his own financial documents but has resisted doing so, breaking a longstanding tradition of presidents and candidates releasing their tax returns.

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