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Geithner’s apology works

January 22, 2009

"These were careless mistakes. They were avoidable mistakes. But they were unintentional."

So began Treasury Secretary nominee Timothy Geithner's mea culpa to Senate Finance Committee members who had been grilling him over his failure to report and pay tax on self-employment income.

Let's just let him speak for himself:

It apparently worked. By an 18-to-5 vote, the panel endorsed Geithner's nomination and sent it along to the full Senate where confirmation is expected next week.

See, your mom was right. Own up to your mistakes, make good when you can and try to sound sincere when you say you're sorry.

Nanny tax strikes again: Yet another prospective political appointee has been knocked out of the running by the nanny tax.

This time it's Caroline Kennedy, who had been by some reports the frontrunner to fill new Secretary of State Hillary Clinton's U.S. Senate seat.

Kennedy pulled her name from consideration apparently after some potentially embarrassing household help tax issues came up during the vetting process.

Details, such as they are, can be found in the New York Times and Politico's Glenn Thrush blog.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • I don’t fault him for the mistakes.
    I fault him for waiting until he got caught to fix them. There were several opportunities to come clean and fix this BEFORE the Obama administration brought it to his attention.
    Can this be the best person we have available to run the treasury?

  • Jan,
    I guess he follows that popular path that it’s easier to ask for forgiveness than permission which, in this case, obviously wouldn’t have been granted!
    Kay

  • betty neace

    This is why the low paid people have a hard time the high paid rob them of there just paid there is more than one way to rob people besids holding a gun to someone head this is another way to rob people.

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