Mainstream media darling Democratic presidential candidate Beto O’Rourke (Texas) reportedly underpaid two years of his taxes, according to reporting by the Wall Street Journal, based on the tax returns O’Rourke released.
“Democratic presidential candidate Beto O’Rourke and his wife, Amy, appear to have underpaid their 2013 and 2014 taxes by more than $4,000 combined because of an error in the way they reported their medical expenses, according to tax returns the couple released Monday evening,” the Wall Street Journal’s Richard Rubin reported. O’Rourke was serving a Democratic member of Congress from Texas during that time.
“They took deductions for those costs without regard to the limit that only allowed that break for medical and dental expenses above 10 percent of income for people their age,” Rubin wrote. “Had they not taken the nearly $16,000 in medical deductions, their taxable income would have been higher. In those years it would likely have been subject to the rates they were paying under the alternative minimum tax.”
The Journal reported in response to their inquiries, that “‘After becoming aware of this error, the accounting firm that prepared the filings was immediately informed and will file an amendment as appropriate,’ an aide to Mr. O’Rourke said.”