Trump Fed pick Moore owes $75K to IRS, government claims
The U.S. government is claiming that Stephen Moore, President Trump’s pick to serve on the Federal Reserve Board, owes more than $75,000 to the IRS, according to court records.
A lien was entered against Moore in January 2018 for unpaid taxes from the 2014 tax year and additional taxes and penalties that may accrue. The unpaid balance was $75,328.80, according to a filing in circuit court in Montgomery County, Md.
A court clerk told The Guardian that Moore hasn’t yet satisfied the claim.
Moore told The Guardian that he disputed the IRS’s claim but was hoping to reach an agreement with the agency.
“For several years I have been working through a dispute with the IRS, attempting to be returned what my attorneys and accountant believe were tax overpayments of tens of thousands of dollars,” Moore said in a statement to the news outlet.
Moore’s wife, Anne Carey, told Bloomberg that the dispute stemmed from Moore accidentally deducting both alimony and child support payments to his ex-wife in 2014, when he could deduct only alimony. Carey said that the IRS disallowed the deduction for both the alimony and child support amounts.
Carey said that she and Moore want to pay off the lien as quickly as possible but also intend to challenge the IRS over its decision.
Trump said Friday he would nominate Moore to the Federal Reserve board but has yet to formally do so. Moore, who was involved in crafting Trump’s campaign tax plan, has been criticized by some economists across the political spectrum who argue that he lacks the expertise to serve on the Fed’s board.
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