John Kerry Fails to Pay Any Estimated Income Tax for 2003

Kerry Tax Return via Tax History Org ^ | 4/16/04 | self

[Too_Bad]

Not only did John Kerry improperly classify a gain on the sale of a painting as a regular capital gain rather than a gain on a collectable which is subject to the higher [28%] tax rate[ see Kerry Files Amended Tax Return]; this error was caught by a Texas CPA [Texas CPA Claims Kerry Owes Extra $12,000 in Capital Gains Tax], but he also failed to pay any estimated income taxes for the entire year of 2003 [see Kerry 2003 tax return]. He sold the painting on March 23, 2003 which means he should have paid quarterly estimated taxes on 4/15/03, 6/15/03, 9/15/03 and 1/15/04 based on the gain on the sale. The minimum estimated taxes he should have paid on a quarterly basis based on his prior year's income was $32,941. This payment was not made until the final return was filed. Kerry is also subject to penalty and interest for failure to make timely quarterly estimated income tax payments.

[Too_Bad]

SCOFFLAW

[bcoffey]

And we're supposed to trust this man with our tax money????

[goldstategop]

Hehehe... and John F. Seinfeld says the rich don't pay enough in taxes. So how much did Seinfeld pay in incomes taxes in 2003? *NOTHING* Not a penny. Keep that in mind the next time you hear him play the Class Warfare Card.

[deport]

That Kerry is a taxing fellar............

[Jim Robinson]

You can trust him and the UN. They'll take good care of your money and other interests.

[Too_Bad]

The only amount he paid during 2003 was $27,277; he didn't
pay it directly -- it was withheld.

[deport]

Presidential Tax Returns in PDF format......

[socal_parrot]

John Kerry will not stand for you calling him unpatriotic.

You must be a Republican.

Who did you vote for in the last election?

John Kerry paid those taxes, before he decided to not pay them.


Taxes are for little people.

[jonsie]

Hillary, is that you?

[rs79bm]

If this would have been President Bush Brokaw, Rather & Jennings would still be talking about it.

[rs79bm]

John Kerry paid those taxes, before he decided to not pay them.

LOL!

[forYourChildrenVote4Bush]

Go ahead America, vote for a liberal/socialist (A.K.A. Carter administration, the worst government in American History) Kerry government that will turn your military into scraps of meat and get a health care service that has you waiting 7 hours in the emergency room to see a doctor (It might be free but it sucks). Don't get sick up here, you might not make it. I LOVE America, I wish I were American....

http://www.flipflopper.com/

http://www.gop.com/kerryvskerry/

[goldstategop]

Eeevil corporations get knocked around for not paying taxes but no one gets concerned when a rich liberal takes advantage of tax loopholes. It kind reminds me of the tax increase the Republican Party in Missouri imposed on the state's partisan newspapers. And the latter were screaming about how unfair it was to tax them to the hilt even those these are the guys who lecture all and sundry about the need to ante up to keep government services up and running. I loved it!!!

[mtbopfuyn]

But, but that wasn't his fault, it was that blankety-blank accountant that pushed him to sign a faulty tax return.

[M Kehoe]

I wonder if Teresa's money is funding John's campaign.

Then again probably not. She probably gave the max. $2500, right. She wouldn't break any laws. I'm sure of it.

Right? Teresa. Heck, you can put all this to rest by disclosing your deductions on the various schedules. You don't have to release everything (e.g. Gross Income). I got an idea. Maybe the Ferraros could give some helpful tax advice.

Right Teresa. Teresa...Teresa?

W. is lookin' tough mom. 8^)

5.56mm

[KC Burke]

If I understand you correctly, you are pointing out that his own return shows that he made no quarterly payments as due for the amount of income above his wage earnings and that is evident as his own return shows only witholding as equal to amount paid.

I think that we are surely going to have to discuss this down at the IRS building....Good Enough for Johnny,

[Too_Bad]

Hillary, is that you?

NOOO WAAAY! I was just perusing Kerry's return for 2003 and saw he filed a Form 2210 "Underpayment of Estimated Tax by Individuals, Estates and Trusts". He not only underpaid, he didn't pay at all.

[Too_Bad]

If I understand you correctly, you are pointing out that his own return shows that he made no quarterly payments as due for the amount of income above his wage earnings and that is evident as his own return shows only witholding as equal to amount paid.

I think that we are surely going to have to discuss this down at the IRS building....Good Enough for Johnny,

Yes, he made no quarterly payments. He filed form 2210 [Underpayment of Estimated Taxes}.

[Too_Bad]

But, but that wasn't his fault, it was that blankety-blank accountant that pushed him to sign a faulty tax return.

Failure to pay quarterly estimated taxes can't be blamed on the accountant who filed the final tax return. Kerry was in "default" beginning 4/15/03.

[jonsie]

Great Find!