Mehmet Oz, President Trump's nominee for the Centers for Medicare and Medicaid Services, reportedly avoided paying significant Medicare and Social Security taxes over three years through a controversial accounting tactic related to limited partnerships. A memo from the Senate Finance Committee indicates he underpaid these taxes in 2021, 2022, and 2023, sparking scrutiny ahead of his confirmation hearing. Oz maintains that his tax strategy is legal. Tax experts warn that while some wealthy individuals utilize similar tactics, ongoing litigation questions whether such exemptions comply with U.S. tax code, exposing potential vulnerabilities in his confirmation process.
Mehmet Oz, President Trump’s nominee for CMS, has avoided Medicare and Social Security taxes by using a questionable accounting tactic, sparking scrutiny ahead of his Senate confirmation.
Senate Finance Committee staff allege that Oz significantly underpaid his Medicare and Social Security taxes in recent years, raising concerns about his tax practices and eligibility for confirmation.
Oz’s spokesman stated that the Office of Government Ethics reviewed Oz's finances and found him compliant with the law, despite ongoing concerns about his tax methods.
Tax experts remark that while some wealthy individuals use such exemptions, there are legal gray areas that may challenge the validity of these practices under current regulations.
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