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Old 10-17-2009, 02:41 PM   #1
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Glad that that the feds will be getting these guys to fork over their taxes, but how many more could there be out there? Thousands? Millions?

OK, fess up, who's on this list?

"Right now we are seeing disclosures about 240 banks in 70 countries on every continent except Antarctica," said Shott.
While not officially called an amnesty program, the IRS says those voluntarily disclosing their secret foreign accounts will likely avoid criminal prosecution.
"They'll pay all the tax and interest and they will pay a penalty," said Shott. "And usually the decision is that there will not be a criminal prosecution."
The penalty will include the forfeiture of one-fifth of the amount held in the foreign accounts.
"Some of our cases range as high as something over $100 million," said Michel.
Thousands of Americans Admit Secret Bank Accounts as IRS Deadline Nears - ABC News

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Old 10-17-2009, 02:45 PM   #2
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Not me!! Though I can see the temptation to shop around all over the world for decent interest rates right now, even if I had nothing sneaky in mind.

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Old 10-17-2009, 02:55 PM   #3
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In my dreams...
Go get 'em.
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Old 10-17-2009, 02:59 PM   #4
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A 20% penalty plus interest is quite a stiff price to pay. Not sure how much compliance they'll get with that.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 10-17-2009, 03:55 PM   #5
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Ziggy, if the other choice is "We'll make an example of you, and you get the cell next to Bernie Madoff"

The government may get quite a few takers

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Old 10-17-2009, 05:30 PM   #6
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No more lawyer stuff, no more political stuff, so no more CYA

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Old 10-17-2009, 05:50 PM   #7
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In the interest of anonymity, should this be a poll question?
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Old 10-17-2009, 11:47 PM   #8
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Originally Posted by mickeyd View Post
Glad that that the feds will be getting these guys to fork over their taxes, but how many more could there be out there? Thousands? Millions?
I'm willing to take my chances...

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Old 10-18-2009, 04:29 AM   #9
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Maybe they should have engaged Marc Rich as a consultant: Marc Rich - Wikipedia, the free encyclopedia
Budgeting is a skill practised by people who are bad at politics.
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Old 10-18-2009, 05:15 PM   #10
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We have vacationed annually in a well-know tax haven for a number of years. When we first started going, I briefly considered the idea of stashing some cash there. I discussed it with my brother, who is a CPA. He put it in stark terms that jolted me back to reality: "Go ahead, but just remember that every time you sign your tax return you are committing a felony."

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