Friday, April 16, 2004


Kerry Files Amended Tax Return, Pays More
Democratic presidential candidate John Kerry (news - web sites) has filed an amended 2003 federal income tax return to reflect that he had to pay $11,577 more in taxes. His campaign said Friday that the initial underpayment was due to an accounting error.

The amended form, filed Thursday, said the tax on the sale of Kerry's one-half interest in a painting by Dutch artist Adam Willaerts was inadvertently calculated at the 20 percent rate rather than the 28 percent rate.
The 28 percent rate is the capital gains rate for collectibles. You'd think a big art investor like Lurch would have his accountants well trained in all the nuances.