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Tax cheats , thoughts?

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.

 
sweet-a-kins

Asked by sweet-a-kins at 1:11 PM on Nov. 17, 2009 in Politics & Current Events

Level 34 (67,502 Credits)
This question is closed.
Answers (23)
  • 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-

    Sisteract

    Answer by Sisteract at 5:00 PM on Nov. 17, 2009

  • http://news.yahoo.com/s/nm/20091117/bs_nm/us_ubs_tax_amnesty
    sweet-a-kins

    Answer by sweet-a-kins at 1:11 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........................
    Anonymous

    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

    sweet-a-kins

    Answer by sweet-a-kins at 1:22 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 this and are coming forward due to this option. There are also many who are hiding assets and they will continue to do so until they are caught. This option simply allowed the honest people to stay honest by making them more away of the requirements.
    Anonymous

    Answer by Anonymous at 1:23 PM on Nov. 17, 2009

  • It also scared the crap out of those in the middle who want to hid the money but are afraid of getting caught :)
    Anonymous

    Answer by Anonymous at 1:26 PM on Nov. 17, 2009

  • If we had a fair tax in america where everyone pays then we wouldn't have such a huge problem with people trying to hide their assets. I am amazed at how our gov't keeps imposing new taxes and fees (or whatever they want to call it) on people making over a certain amount. People are so sick of the gov't taking their money to give to programs to help some who do not work (by choice not circumstance) that they hide it.
    Anonymous

    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 this and are coming forward due to this option. There are also many who are hiding assets and they will continue to do so until they are caught. This option simply allowed the honest people to stay honest by making them more away of the requirements.

    Proof of this ridiculous claim? People with MULTI MILLIONS hidden are HIDING them for a reason
    sweet-a-kins

    Answer by sweet-a-kins at 1:36 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".

    Sisteract

    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??

    sweet-a-kins

    Answer by sweet-a-kins at 1:36 PM on Nov. 17, 2009

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