This is killing me!! DU -- Just what do you think is in those tax returns???

[Hassin Bin Sober]

65. There was an amnesty offered by the IRS in 2009.

One of the main targets of the the amnesty was Swiss bank accounts (Romney has Swiss accounts). This particular amnesty was driven mostly by the Swiss Government's agreement to release names of US tax cheats hiding money in Switzerland - an, until now, unprecedented breach of the tax cheats' "privacy." This resulted in tax cheats scurrying to their accountants and tax attorneys in record numbers.

To be eligible to avoid FELONY CRIMINAL CHARGES, Romney would first have to ADMIT in his amended returns he committed FELONY CRIMINAL TAX EVASION and then amend his returns accordingly.

That UN-PROSECUTED illegal behavior would be all over his 2009, 2008, 2007 etc. amended returns LIKE A RASH.

Romney was running for office in 2007 and 2008. That gave him plenty of time to pay and file taxes on his normal US income based on what he had to know would be scrutiny of his tax returns. He had plenty of time to structure his returns to show a "respectable" 13 or 14 percent effective tax rate for himself (like he did in 2010).

What Romney WOULDN'T have been able to foresee, or plan for, would be the Swiss Government's agreement to release names of tax cheats and the subsequent US amnesty program offered.

In other words, the "rules" of his game changed SUBSTANTIALLY and inconveniently while he was gaming the system.

I, and many others, believe paying ZERO taxes wouldn't even be result in the liability he is/will be facing for non-disclosure. In fact, as I stated up-thread, paying no taxes might garner him support among his most loony followers (see: Paul Ryan fans).

If his only problem is he didn't pay enough taxes, he could end the story in a couple days (a week?) by releasing his returns and explaining how it is "fair" and legal for a businessman to to take advantage of all available tax laws and loopholes.

If he committed and admitted to felony tax evasion he is DONE. And he knows it.

October 13 2009

Deadline looms for Americans to disclose accounts in foreign tax havens

http://articles.latimes.com/2009/oct/13/business/fi-swiss13

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for failing to report those accounts. Tax attorneys have been besieged by wealthy clients who are lining up to apply.



Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a Thursday deadline to disclose those accounts or face possible criminal prosecution.

The concern was triggered this summer when Switzerland's largest bank, caught up in an international tax evasion dispute, said it would disclose the names of more than 4,000 of its U.S. account holders.


The decision shattered a long-held belief that Swiss banks would guard the identities of its American customers as carefully as they did their money, and it raised concern that other international tax havens might be next.

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for having failed to report their overseas accounts. As a result, tax attorneys across the nation have been besieged by wealthy clients who are lining up to apply even though they will still face big financial penalties.