Christie fails to report income, avoids $152,000 in taxes

[n2doc]

Source: Watchdog.org

By Mark Lagerkvist | New Jersey Watchdog

Gov. Chris Christie failed to report as income or pay taxes on $380,000 in expense allowances he received from the state, according to a New Jersey Watchdog examination of Treasury data and the governor’s tax returns.

By not declaring the allowances on their joint returns, Christie and his wife, Mary Pat, avoided roughly $152,000 in federal income taxes over four years.

Despite an exchange of emails, Christie’s press office did not offer comment.

In addition to his $175,000 a year salary, Christie gets a $95,000 a year expense account. In the state budget, it’s described as an “allowance to the governor of funds not otherwise appropriated, for official reception on behalf of the state, operations of an official residence, and other expenses.”

Read more: http://watchdog.org/211787/christie-avoids-income-taxes/

[Agnosticsherbet]

1. Is that income tax evasion or Oops?

Dirty rat bastard.

[pnwmom]

2. I don't see how that amount could be an accounting error. If it was, Christie should sue

him for malpractice.

[edhopper]

4. Doesn't matter who works on your Taxes

if you sign the return, it's yours and you re fully responsible.

[pnwmom]

5. Yeah, for penalties. But if his accountant made the mistake then it would probably

keep Christie out of prison.

[edhopper]

6. You are probably right in this

but i bet there are people in jail for mistakes their accountants made.

[FailureToCommunicate]

24. Well, who among us hasn't made a little math error ($38,000 x four YEARS) once in a while?

Christy has so many problems with honesty, it's hard to know where to focus.

[Agnosticsherbet]

31. It could happen to anyone...named Christie.

[Laxman]

41. Do You Suppose....

that he declared the 150,000 "gift" from Jerry Jones? Or whatever the family trip to one of the world's most expensive hotels on the dime of the King of Jordan? Or doesn't it count when it's between friends?

[edhopper]

3. How many crimes must he commit

before he is indicted?

[KansDem]

8. Really. You'd think the orange-cone fiasco would have done him in

But now there's this.

Why should we Americans be expected to accept corrupt lying public officials?

[edhopper]

9. And the pension funds

and the Sandy money
And the WTC deal to Jerry Jones
And, and, and...

[DanTex]

11. The ExxonMobil giveaway/"settlement"...

[KansDem]

14. oops! Forgot about those!

Thanks for the reminder of how corrupt Christie is.

[BumRushDaShow]

38. Don't forget the NY/NJ Tunnel project

where the state had to pay back (at the reduced settlement price of) $95 million -

http://www.nytimes.com/2011/10/01/nyregion/nj-to-repay-us-95-million-over-hudson-tunnels.html?_r=0

And they are still paying for the fallout -

http://www.nj.com/traffic/index.ssf/2014/10/tunnel_project_still_costing_nj_transit_money.html

[titaniumsalute]

7. Not defending him

But my business expenses are not taxable. Are his? I guess they are.

[BlueEye]

25. Don't read too carefully into the word "expense".

If you are self-employed or are a small business owner, your expenses that YOU incur are deductible for AGI. Likewise, NON-REIMBURSED employee expenses may be itemized. But the key word is non-reimbursed.

This is a taxpayer funded account that Christie may expense things to, so the burden of the expense is on the employer (State of NJ) for the benefit of the employee (Christie). Hence, it constitutes income.

There are some narrowly defined exclusions, such as meals furnished on employer premises during work hours, etc. With a $95,000 expense allowance, frankly it would be a nightmare for an accountant to try and determine what is excludable versus what is not. But I have to imagine that tens of thousands of it should definitely have been included as taxable income, especially if he received any personal benefit from it whatsoever.

[titaniumsalute]

26. Thank you.

[Sheepshank]

32. Working for a State Goverment, still has Federal guidelines

and all monies received, even those in addition to salary, should have been declared on Christie's paystub. For hecks sake, when my boss gives me two movie tickets for a project well done, it's declared on my paystub, with a equivalent $ value and I pay taxes on it. Upper management here, that get a car allowance etc also has that declared on their paystub and appropriate taxes paid.

There is so much of the public funds being bilked to line Christie's pockets, it is sickening.

[BlueEye]

39. Of course, you're right.

That's why I said "narrowly defined". The income exclusions in Internal Revenue Code are only applicable to very specific situations. If Christie has a $95,000 expense allowance, I would be shocked if even 5% of it was excludable from income. The vast majority of it was taxable income, and Christie should be harshly questioned for failing to report it for four years.

[KansDem]

10. A "One-Percenter Wannabee?"

He's learning from the best...

[annabanana]

13. Whoopsie!

lololol

[tomsaiditagain]

15. Chris "The Dougnut" Christie mafia boss

When "The Doughnut" is finished being "Da Gov" he will retire in "The Crowbar Hotel."

[turbinetree]

16. If we

had missed a box in our return we would have had to pay the money due-----------------------now my advice to this hypocrite is "sit down and shut up"

[kimbutgar]

17. IOKIYAR unfortunately nothing will come of this

The guy is like Teflon. If he was a Dem he would have to resign. Christie has some powerful backers and protectors.

He might not stand a rat's chance being President but he'll finish his term being governor after he's sold off and destroyed New Jersey.

[NJCher]

36. nah

They are all laughing him off. Recall the faux pas he made with Sheldon Adelson over the "occupied territories"?

What Christie does have is a finely honed sense of delusion, and because he's such a nasty SOB, nobody will give him any feedback.

So in Christie-world, he's "presidential" material.


Cher

[gd770226]

18. Poorly written article

I don't think this will really end up doing him any harm.

The article has to go all the way back to 1992 to find a governor that did claim this money. That is a long time ago. So if the recent previous governors didn't claim it I can't get that outraged if he didn't.

Also, did this money go directly to him? Was this money that he received in paychecks or was this just a budget line that he could do with what he wanted?

Lastly, the article says that it was for things like state receptions, operations of the official residence. I'm sure if push came to shove he would be able to show some actual expenses that he could right off against this income.

There are plenty of things to get upset with Christie about, I don't think this is going to be one of them.

[former9thward]

19. Expense accounts are not taxable.

All governors (and the president) have them. The only way it is taxable is if left over money was going into Christie's personal accounts. There is no evidence of that here.

[muriel_volestrangler]

22. I think it's the next paragraph that explains - and 'expense account' may be a misnomer

The governor is not required to provide receipts, refund surpluses or provide information to the state on how the money is used. But failure to report a “non-accountable” allowance to the Internal Revenue Service is a different matter.

If you are not itemising the expenses, or refunding surpluses, to your employer, then, in the UK anyway, it would count as a form of income, and would certainly need to be reported. They show a state document calling it an 'allowance to the governor'.

[titaniumsalute]

23. I just did some research on this

If the expense account is paid to the Governor in cash and he doesn't use it for allowed non-taxable expenses (like business travel, etc.) then it would be taxable income. My business travel is paid for after I incurred the costs and I dont make any money above the actual expense check covering my travel costs for my job. Therefore I pay no income tax on that money.

[perdita9]

20. Hey, Republicans! Late night comics don't need your charity

They're not going to get paid if the jokes write themselves.

[TheCowsCameHome]

21. Haha, will a triple seat be available in the GOP clown car?

[joanbarnes]

27. Oops. Just oversight? Nothing to see here folks, move along......

[mountain grammy]

28. Typical Republican tax cheat..

motor on, Christie!

[Gothmog]

29. Christie cheats at everything

[vkkv]

30. How much time did Wesley Snipes do in prison?

Answer:

On April 24, 2008, Snipes was sentenced to three years in prison for willful failure to file federal income tax returns.


Make it TEN YEARS for a government official who we are supposed to be able to trust.

[MosheFeingold]

33. A corrupt NJ politician?

I had no idea that Boardwalk Empire was a documentary.

[Laxman]

34. I Am Speechless....

not really, I'm actually uttering all kinds of expletives right now-especially since I'll be filing my taxes this afternoon an I'm trying to figure out how I'm going to come up with the money to pay what I owe. Putting aside the immorality of this story, consider that this has to be purposeful. Christie and Mary Pat weren't sitting around the kitchen table doing their taxes on Turbo Tax. They're people of wealth with access to the best legal and accounting advice and as public figures, a responsibility to be ethical and above reproach. The arrogance and level of malevolence it takes to cheat on income that is public record is somewhere beyond astounding.

[NJCher]

37. yeah, I was kind of wondering

How you would be doing when you got this bit of information.


Cher

[Lipss]

35. They better pay up

Or get in legal trouble.

[tomm2thumbs]

40. from that link

OMG -- can you imagine if he were quadruplets?




Imagine no more