charlesrangel - failing to disclose rental income on...

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Leah Celani Taxation of Business Entities Professor Robison November 16, 2010 Charles Rangel Charles Rangel is the U.S. Representative for New York's 15th congressional district, serving since 1971. In 2008, Rangel faced allegations of violating tax laws. Rangel accepted gifts from corporations thus violating the House gift rules. The House Ethics committee concluded that he accepted payment from corporations for the reimbursement of travel to conferences in the Caribbean, and required him to repay those expenses. He also improperly used his office to raise money for a public policy institute in his name, the Rangel Center, at the City College of New York. Furthermore, he is accused of
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Unformatted text preview: failing to disclose rental income on properties he owned in the Dominican Republic. Also, Rangel allegedly lived in multiple rent stabilized apartments in New York City while claiming his residency in Washington, D.C. for tax purposes. In July, Rangel was charged with thirteen counts of violating House rules and federal laws, and is facing a formal trial in the House to determine his fate. Since the allegations, Rangel has stepped down as Ways and Means chair. It is reassuring that a political figure can be prosecuted for breaking the law unlike other political figures like Timothy Geithner....
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This note was uploaded on 11/29/2010 for the course ACC 331 taught by Professor Dr.lee during the Fall '10 term at Jefferson College.

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