Oh wait, here's Rahm giving Mossad the high sign--the secret code asking for help.
Rahm giving Mossad the high sign---this means he's in trouble and needs help.
HELPFUL HINT Maybe Mossad can send agents across the Iran border and
start flinging missiles at Israel---so Rahm has an excuse to go help out the IDF---
like he did during the SCUD missile crisis.
That way Rahm will not hafta take another (cough) African safari.
Now don't get mad (kidding) but I think this 'imputed tax' thing and Rahm may be, wrong.
Wow, this is getting complicated. Maybe 'we' should check with the guy who writes the tax laws... Charlie Rangel! ....From my interpretation of the Tax Code(1) it's not Rahm, but the Apartment OWNER (forget her name) who has the "Imputed Income" obligation.
It was she who let Rahm live rent free while she could have rented the same space to 'Joe Blow' for $x,xxxx.xx per month. As reported, over five years she would have had an additional 'real' income $100,000.00 to pay taxes on. That is "Imputed Income" and would be her responsibility.That being said, Rahm's tax obligation for living rent free, if any, would be as if he had a 'Company Car'. In the good old days a Company Car was a tax free benefit for execs and top managers. Then Congress closed the "loophole"(/s) and the Value of the Car is now taxable. Companies then stopped 'giving' the cars and replaced that with 'car allowances'. Rahm would then have to file, IRS form 2106 Employee Business Expenses.EXCEPT he's not getting the 'Free Rent' from his Employer. So I don't think he owes anything. Unless of course we go into the "GIFT TAX" section?!?
(1) I'm not a CPA but I play one every April ;-)