Posted Oct 06, 2008 10:41 pm CDT
Tax law professors are taking center stage in the latest political issue concerning Sarah Palin’s candidacy for vice president on the Republican ticket.
Among the questions they are raising about her recently released 2006 and 2007 tax returns is whether she reported all the taxable income she received for her work for the state, notes the Caucus, a New York Times political blog.
For example, the returns apparently don’t include $43,490 in reimbursement that Palin received for travel by her husband and children. However, it appears that this may have been based on advice from her tax preparer and a lawyer.
“The children’s travel payments are clearly taxable income,’’ says professor Jack Bogdanski of Lewis and Clark Law School in Portland, Ore. “The money paid for Todd Palin’s travel might possibly turn out to be tax-free, but it would be quite a stretch.”
TaxProf Blog: “Alaska Violated State Policy in Gov. Palin’s Per Diems”
TaxProf Blog: “Tax Profs Agree: Gov. Palin’s Tax Returns Are Wrong”
TaxProf Blog: “Gov. Palin Releases Opinion Letter Justifying Not Reporting Per Diem Expense Reimbursements as Income”