Rangel Didn't Report Taxable Income

"Rangel, 78, acknowledged last week that he failed to disclose and pay taxes on at least $75,000 in rental income from a Dominican Republic villa that he has owned for 20 years -- a home financed, in part, with a no-interest loan from the developer. Rangel said he would amend his returns and pay back taxes of more than $10,000." (Editor's pick)