IRS Announces That Tax-Cheat Forfeitures Total $2.7-Billion -- Much More to Come

[vets74]

Source: Atlantic Wire and IRS

Note that the Bush Administration did nothing. Tax cheats were their "Base."

IRS Commissioner Douglas Shulman held a telephone conference call with reporters today. He said that the agency’s international tax enforcement had brought in more than 2010. “The results we’re seeing today were unthinkable just a few short years ago,” he said on a conference call with reporters. “The world has clearly changed.”

The Internal Revenue Service announced that 12,000 taxpayers declared offshore bank accounts. The yield was $2.7 billion. The yield under the former Administration totaled approximately 37-cents. That being the postage on the note from the miscreants, conveying their "Fuck you, Georgie."

Now on to the next step. These 12,000 are but a few percent of what is known. Should we expect to see upward of 100,000 indictments moving forward ??? Not a word from IRS. Not yet.

Read more: http://www.theatlanticwire.com/business/2011/09/rich-cheats-handed-over-27-billion-offshore-tax-havens/42549/

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*** Think would make a nice item come October 2012, moving the first prosecutions into Federal court ? ***

[orpupilofnature57]

1. Offshore mentality tells the story ,where did the money come from ,offshore?

[FailureToCommunicate]

2. Great!! $2.7 billion will pay for a about two weeks of wars in Iraq and

Afganistan...

[alp227]

3. NY Times: Amnesty Program Yields Millions More in Back Taxes

More than 12,000 American taxpayers have voluntarily revealed their secret offshore bank accounts to the Internal Revenue Service as part of the government’s latest tax amnesty program, agency officials said on Thursday. The move will allow the United States Treasury to collect at least half a billion dollars in unpaid taxes.

The voluntary disclosure program, which was in effect from February until last week, is part of an initiative to deter tax evasion via offshore bank accounts. Since the I.R.S. began its previous amnesty program in 2009, more than 30,000 taxpayers have reported their secret overseas accounts, and the federal government has collected $2.7 billion in taxes and penalties.

full: http://www.nytimes.com/2011/09/16/business/amnesty-program-yields-millions-more-in-back-taxes.html

[RUMMYisFROSTED]

4. Iow, their cheating paid off.

Again.

[mopinko]

5. iow, WE got the low hanging fruit for free.

and we are ready to fire up the cherry picker to get the fat ripe ones at the top of the tree now.
i remember reading about this amnesty early in this admin. very smart policy.

[RUMMYisFROSTED]

6. I mistakenly thought they had received a reduced rate of tax.

My bad.

[SpartanDem]

7. I'd rec this if I could

[No Elephants]

8. Good start.