Word: mckay
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Meese announced July 5 that he will step down as attorney general later this month or in early August. He said then that McKay's report, which he had not read at the time, "completely vindicated" him. The report originally was filed under seal that day with a three-judge court...
...McKay said that the Meeses failed to report a net capital gain of $20,706 on the sale of $54,581 in securities...
...McKay noted that Meese finally filed an amended return on February 6 of this year, "shortly after the scheduling of the grand jury appearances for the Meese's accountants" in connection with McKay's criminal investigation of the matter...
...that time, the Meese paid $ 2875 in overdue federal tax payments and interest with the amended return, declaring a capital gain on the securities sales of $ 14606. McKay said, however, that Meese's accountants had made an error in calculating the basis of AT&T stock sold in 1985, under which $1000 in additional tax was due the government on an added $6000 in capital gains...
...Meese had a duty to report the securities sales and to declare his capital gains income on his tax return filed Oct. 15, 1986," said McKay...