With severe budgetary distress in Washington, the IRS is using both carrots and sticks to make those with illicit offshore bank accounts pay up an estimated $100 billion in unpaid annual taxes. Full Story »
Posted by Derek Hawkins
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I was not aware of this new Federal program, and this piece does a good job of explaining it. What we don't get is a better sense of the scope of this problem. How many Americans are involved in this illegal activity?
While not being in-depth, This is an excellent article. Even if it does nothing else, these tax evader's see the writing on the wall. While the big whales maybe slick, If they get caught, no amnesty.
Obama is keeping his word about these off-shore accounts. Now if he can get Congress to Tax these huge companies, who have nothing but a mailbox in ... More »
Michael Bachner noticed that he was suddenly hearing from a lot of wealthy callers with bank accounts in Switzerland or the Cayman Islands. They all had the same ... More »
this story apparently explores the top of the iceberg of hidden taxes due, in explaining how the irs is working to obtain some of the tax money using both positive and negative approaches. it would seem that past 'carrots' haven't been that successful. not enough examples and sources for what could happen, and how likely it is that most hidden evaders will ever be found or if found, actually have to pay enough to reduce the problem. difference.
Not very deep, but an interesting report on a new federal initiative to crack down on large scale tax evasion.
I doubt if there is that much American money hidden in Swiss banks. But, then who actually knows? You never hear about the huge tax evasion by ... More »
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