Wednesday, January 14, 2009

Geithner Hearing Postponed, Again

As the tension builds, the Senate Finance Committee has for the second timed postponed Timothy Geithner's confirmation hearing. A tentative Friday date has now been moved to next Wednesday.

Geithner, whose nomination as Treasury secretary has been delayed by his past failure to pay taxes, was repeatedly advised in writing by the International Monetary Fund that he would be responsible for any Social Security and Medicare taxes he owed on income he earned at the IMF between 2001 and 2004, according to WSJ.

Current and former IMF officials said the fund provided numerous warnings to U.S. employees about payroll taxes. According to IMF documents released by the Senate Finance panel, Geithner regularly received information about his tax obligations, says WSJ.

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