Beto O’Rourke Underpaid Taxes For 2 Years, Tax Records Show
2020 hopeful and his wife owe more than $4,000
Democratic presidential hopeful Beto O’Rourke and his wife underpaid their taxes in 2013 and 2014, according to reports.
O’Rourke and his wife, Amy, failed to pay the full amount of their taxes leaving more than $4,000 owed due to the way they reported their medical expenses, according to an accountant who examined their reports for the Wall Street Journal.
O'Roucke. who joined a list of Democrats who release their tax returns on Monday, deducted the medical expenses that were only permitted for medical and dental expenses above 10% of income for people their age.
The couples taxable income would have increased had they deducted $16,000.
But O’Rourke insisted it was on an error and promised amendments would be made.
“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.
During the time the tax deductions where taken, he 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.
The limits were based on the taxpayer’s age.
If the client's age was not entered by the tax preparer when making the deduction, the tax software automatically made the full deduction, according to Tony Nitti, a CPA at RubinBrown LLP, told the Wall Street Journal.
But Nitti admitted he also made the same mistake during those years.
Earlier this month, Neon Nettle reported that O’Rourke paid $110,000 in campaign funds to his and his wife's web development company.
According to Federal Election Commission (FEC) records: Beto paid Stanton Street Technology Group $58,544 throughout the 2011-12 election cycle, then $39,060 during the 2013-14 period, and further $9,290 in the 2015-16 cycle and $32,778 during the 2017-18 cycle, reviewed by the Daily Caller.
During the majority of those payments, either O’Rourke or his wife owned Stanton Street, a company founded in 1998.
House Ways and Means Committee chair Richard Neal recently requested Trump’s tax returns from the Internal Revenue Service.
Rep. Alexandria Ocasio-Cortez, D- N.Y. followed up by demanding that Trump complies with the House committee's request in a tweet. Ocasio-Cortez said Congress would not be taking "no for an answer."