mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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?
Thousands of Americans Admit Secret Bank Accounts as IRS Deadline Nears - ABC News
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