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Murphy Uses Turbo Tax

by CTNewsjunkie Staff | Apr 18, 2012 1:28pm
(3) Comments | Commenting has expired
Posted to: Congress, Election 2012, Taxes

Two days after challenging his opponents to release their tax returns, and one day after former U.S. Rep. Chris Shays released his, U.S. Rep. Chris Murphy released his 2011 filing Wednesday morning.

It shows that Murphy and his wife, Catherine Holahan, had a total income of $220,353. Murphy made $157,500 as a member of the U.S. House of Representatives, while Holahan made $62,625 as an attorney with Connecticut Legal Services.

Together they paid $45,499 in federal income taxes and will be getting a $6,757 tax return, but will owe the state about $351. They paid $11,423 in Connecticut income taxes.

The Cheshire couple also paid $2,209 in household payroll taxes for their childcare worker who takes care of their two children.

Unlike Shays, who filed his return on paper and paid an accountant $1,042 to prepare the return, the Murphys used TurboTax and filed their own return.

“How many Congressmen can say that?” Kenny Curran, Murphy’s campaign manager, joked.

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(3) Comments

posted by: Palin Smith | April 18, 2012  3:05pm

Murphy paid about 20%.
How much easier would it be to repeal the current tax laws and replace them with a 20% Flat Tax!

posted by: GMR | April 18, 2012  5:31pm

GMR

The tax code is not complicated because of multiple brackets, it’s complicated because of all the deductions, credits, allowances, etc.  If we were to go to a flat tax, we’d have to first decide if home mortgage interest, charitable donations, etc. were deductible.  There would still probably be pass-through income (Subchapter “S”) in a flat tax system.  There would still need to be depreciation allowances, and all the other business deductions.

posted by: ALD | April 18, 2012  7:57pm

“Unlike Shays, who filed his return on paper and paid an accountant $1,042 to prepare the return, the Murphys used TurboTax and filed their own return.”

WOW!!  Golly Gee wizz Batman isn’t that cool???