ANCHORAGE, Alaska — Sarah and Todd Palin underpaid their estimated taxes with an April extension and could owe interest, according to an Associated Press analysis of the couple’s 2007 federal tax returns released Friday by the McCain campaign.
On an undated extension form filed with a $2,000 check dated April 11, the Palins claimed an estimated tax liability of $22,721 and total withholding payments of $20,721. The attached check meant the couple thought they had paid all of their taxes for 2007, as required.
However, when they filed their taxes last month, dated Sept. 3, their tax liability turned out to be $24,738 — meaning they owed an additional $2,017.
IRS rules require that when a taxpayer files for an extension in April, all outstanding taxes must be paid at that time.
When asked whether the Palins had paid any interest or penalties, and if so, how much, Maria Comella, McCain-Palin spokeswoman, said the couple had paid “at least $2,017” and that the campaign was researching whether an additional payment had been made.
