Tax Man Rangel Forgets to Pay His Own

Rangel also didn't confess up to at least five other investments, reports say

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    Charles Rangel is in more hot water over his finances.

    Embattled Rep. Charles Rangel, who is now under more scrutiny for failing to disclose his personal assets, also somehow forgot to pay taxes on two plots of land he has in New Jersey, records show.

    Rangel is the powerful chairman of the Ways and Means Committee, which writes the tax code, making the blunder that much harder to believe.

    Rangel's ownership of the small, undeveloped properties came to light on Tuesday only after he drastically amended at least six years of financial-disclosure forms he had filed annually with the House clerk as required by law, the New York Post reported.

    The House Ethics Committee is probing allegations he failed to reveal personal assets totaling as much as $780,000, records released yesterday show.

    An amended report to his 2007 Congressional disclosure form indicates that Rangel's assets include a checking account with a balance between $250,000 and $500,000.

    Rangel also didn't confess up to at least five other investments. One of those, with the ING Principal Protection Fund, was valued at between $50,000 and $100,000, the New York Post reported.

    Rangel aide Elbert Garcia said that the amendments were the congressman's attempt to fix errors in his financial reporting.  some Republicans said that the new disclosures demonstrate the need for Rangel to be removed from his chairmanship.
        
    Two House subcommittees are investigating Rangel's financial dealings.