Rangel Will Pay Back Unspecified Amount in Taxes for Questionable Rental Property

As House GOP leaders called for his removal from the powerful chairmanship of the House Ways and Means Committee, Rep. Charles B. Rangel (D-N.Y.) announced yesterday that he will repay an unspecified amount in back federal, state and local taxes on unreported income from a Dominican Republic vacation property.

The Harlem Democrat will file amended federal, state and local tax returns to reflect $75,000 in income from the beachfront villa that he previously failed to list on tax and congressional financial disclosure forms, said his attorney Lanny Davis.

Read more: (Christopher Lee, “Rangel Says He Will Pay Back Taxes; GOP Wants Him Out of Chairmanship,” The Washington Post, 9/10/08)