Trump's Fed Pick Has Large Unpaid Tax Bill

IRS is pursuing Stephen Moore for $75K
By Rob Quinn,  Newser Staff
Posted Mar 28, 2019 2:59 AM CDT
Trump's Federal Reserve Pick Owes $75K to IRS
Stephen Moore attends a fundraiser in Scottsdale, Arizona.   (Wikipedia/Gage Skidmore)

President Trump's controversial choice for a seat on the Federal Reserve board doesn't have his own finances in order, according to court documents. A federal tax lien in Maryland says conservative commentator Stephen Moore, who owns a home in the state, owes $75,328 in taxes and penalties, Bloomberg reports. Moore, who has long been an anti-tax activist, said in a statement that he disputes the IRS claim, which stems from taxes incurred in 2014. “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," he said.

Moore's wife, Anne Carey, says the dispute with the IRS started when Moore accidentally claimed child-support payments to his ex-wife as a tax deduction. She says it "was not an attempt at defrauding the US government," adding that they believe they have overpaid their taxes in recent years by around $50,000. Moore, a Heritage Foundation fellow and the author of Trumponomics, served as a Trump campaign adviser and helped draft his tax cut plan. The president said last week that he would nominate Moore for a seat on the Federal Reserve's board of governors, though his name has not been submitted to the Senate yet. Critics say Moore lacks qualifications and is too close to Trump to serve on the traditionally independent board, CNN reports. (More Federal Reserve stories.)

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