Wendy Davis penalized for late tax payment

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Beltway Confidential,Opinion,Taxes,Texas,Ashe Schow,Wendy Davis,Greg Abbott

After months of delay, Texas state senator and Democratic gubernatorial candidate Wendy Davis finally released her full 2013 tax return this week — and it turns out she was hit with a fine for late payment.

In April, her Republican opponent, Texas Attorney General Greg Abbott, released his 2013 tax data while Davis filed an extension, vowing she “absolutely” would release her tax returns.

“I filed an extension, which is something I've done for many years, but as soon as I complete my tax returns I absolutely will turn them over,” Davis told WFAA 8, Dallas-Fort Worth’s ABC affiliate.

But months went by without Davis fulfilling her pledge. Finally, on Aug. 22, Davis released her tax return to the media – but told reporters not to share the document or publish it in full.

Christine Ayala of the Texas Tribune wrote that the release of the full return came on Tuesday as her employer was working on a story about Davis’ conditions for the media. It is unclear whether that story was the reason Davis released her full tax return.

Her campaign did not respond to inquiries from the Washington Examiner.

Ayala laid out the basic facts of Davis’ tax return: "The tax filing lists Davis’ adjusted gross income for 2013 at $249,754 and shows she paid $70,252 in income taxes. Davis brought in $120,000 from her work as an attorney, down from the $275,000 she made the previous year. And she reported earning an additional $132,000 for a book deal. The upcoming memoir, titled Forgetting to be Afraid, is set to be published in September."

What Ayala doesn’t mention is that Davis was subject to a $1,246 penalty for an underpayment of $62,439.

For comparison, Abbott and his wife had an adjusted gross income of $191,448, but thanks to deductions and exemptions, their total taxable income was reduced to $100,128. They overpaid their federal taxes by $20,329, so they received a sizable refund check.

Abbott also reported giving more to charity than Davis. Abbott donated $6,650 to charity while Davis gave $4,327.

Davis continues to trail Abbott in the polls by double digits.

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