Abrams settles IRS debt as she prepares for another candidacy

Abrams disclosed his debt to the IRS, along with approximately $ 170,000 in credit card and student loan debt, in financial documents in March 2018 that showed his net worth to be around $ 110,000.

At the time, Abrams said she deferred tax payments into 2015 and 2016 to help pay for her family’s medical bills and was on a payment plan to settle debts.

Rather than downplaying the topic during the election campaign, Abrams took the unusual step of speaking openly about his financial struggles to try and connect with voters.

She wrote a column embracing the debt that gained national attention, and she cited it in attacks on her wealthier political rivals. She has also repeatedly cited her money issues to show voters that she faces the same issues they face.

“Sometimes we stumble and we have to have a leader who understands these struggles,” she said in a meeting. “Because falling doesn’t mean you have to stand there – and be silent. “

Her debt became a favorite GOP target once Abrams secured her party’s nomination, as Republicans questioned whether she could effectively manage the state’s $ 26 billion budget if she struggled to assume personal financial responsibilities.

“Stacey Abrams wants to raise your taxes,” a televised attack claimed, “but hasn’t paid hers.”

Shortly after winning the GOP nomination, Kemp highlighted records showing that Abrams, a tax attorney, donated $ 50,000 of her own money to help her launch her campaign while she had a tax debt.

“If it’s not criminal,” he said, “it should be.

Abrams didn’t break any laws and rejected the idea that she crossed ethical boundaries. But she said last year that while delaying past IRS payments to help her parents wasn’t the “smartest move,” it gave her the flexibility to support them.

During the election campaign, she often spoke about her financial difficulties, recounting her painful discovery at Spelman College that missed credit card payments could turn small fees into large debt.

And she tried to contrast her more limited financial means with Kemp and the other millionaires who ran for statewide jobs in Georgia last year.

“For the people I want to represent, they know these challenges intimately,” she said at a stop. “And they’re thrilled to know that there is someone running for office who understands their real life and has real plans to fix it.”

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