Stephen Moore, President Donald Trump’s controversial pick for a Federal Reserve seat, has a $75,000 tax problem.
The IRS entered a federal tax lien on Jan. 29, 2018, for an unpaid balance of $75,328.80 for taxable year 2014, according to court records in Montgomery County, Md., where Moore has a home.Moore, a conservative tax policy specialist who worked on Trump's tax plan during the 2016 presidential campaign, disputed the IRS claim.
“The IRS owes us money; we don’t owe them money -- we had a $50,000 overpayment on our taxes,” he said, adding, “this has been like the audit from hell, we can’t get them to close this.” The dispute, he said, stems from an alimony and child support payment he made to his ex-wife. Alimony is tax deductible for divorces finalized before 2019. In deducting his alimony payments, Moore said, he erroneously claimed a deduction for child support payments, which are not deductible.Sign Up
By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. In response, according to Moore, the IRS struck out his full alimony deduction and added the figure to his tax burden, instead of just striking the child support deduction.“We’ve been in a dispute with the IRS now for years,” Moore added.
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