The IRS amnesty program, which ended in October, offered reduced penalties for wealthy Americans who voluntarily disclosed previously undeclared foreign bank accounts and assets. "We were flooded with people coming in the final days of the program," Shulman said.
"The IRS has never got anything like that in response to prior initiatives," said Barbara Kaplan, a lawyer for high net- worth clients in New York. "It's a little higher than I anticipated based on the pace of my own practice and the panic that was out there."
While agency officials were still analyzing the amount of offshore assets and bank accounts disclosed, Shulman said "we are talking about billions of dollars coming into the U.S. treasury" from the amnesty program.
"The whole game around bank secrecy, around offshore (tax) evasion is changing" because of pressure from the U.S. Justice Department and from international capital markets, he said.
So now the lying cheaters want to blame Obama for their transgressions. Desperado why don't you come to your senses...... Nice-
Seems it's not just the evil left that likes to skirt the law and have all things fall in their favor, or screw it-
Answer by Sisteract at 5:00 PM on Nov. 17, 2009
Answer by sweet-a-kins at 1:11 PM on Nov. 17, 2009
Answer by Anonymous at 1:19 PM on Nov. 17, 2009
No thoughts, there are people in the world with money, it's not up to you to decide they need to pay taxes. Everyone, including the poor, need to pay taxes. Next question........................
WHAT? I didn't say it was up to me. It isn't up to them if they pay taxes either, its the law
Answer by sweet-a-kins at 1:22 PM on Nov. 17, 2009
Answer by Anonymous at 1:23 PM on Nov. 17, 2009
Answer by Anonymous at 1:26 PM on Nov. 17, 2009
Answer by Anonymous at 1:29 PM on Nov. 17, 2009
There are many many people who have overseas accounts who are not hiding income. Many simply did not know they were required to disclose......
Not buying the uninformed bit @ all. All the ppl I know personally who have offshore accounts have them for 1 reason-it's common knowledge and readily utilized by the "well to do".
Answer by Sisteract at 1:36 PM on Nov. 17, 2009
I can't believe there are people defending tax cheats!! LOL Breaking the law is OK if your rich huh??
Next question overall
I have been having trouble with hemmorhoids. What could be causing them?