Thursday, July 19, 2012

That's the problem, were not sure where Mitt has been financailly

The IRS offered an amnesty to US tax evaders that had Swiss Bank accounts in 2009. This is when  UBS bank surprisingly released the name of 4,000 tax evaders to the IRS. 

The tax scofflaws that settled paid a huge fine but avoided incarceration. 

Wikipedia states:

Tax evasion is the general term for efforts by individuals, corporationstrusts and other entities to evade taxes by illegal means. Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability, and includes, in particular, dishonest tax reporting (such as declaring less income, profits or gains than actually earned; or overstating deductions).

Tax evaders can receive a 10 year sentence in a federal penitentiary. 

If Romney has settled with the Federal government for tax evasion, it would a probably be apparent in his 2009 or earlier returns that would indicate an amended status with
Foreign Bank and Financial Accounts (FBAR) declarations. 

In general, US citizens are charged with tax evasion when they try to conceal or fail to declare income.

Should we just trust Mittens because Ann says he has good character?

Not for an important job like president in which Mitt could end up being impeached because of tax crimes he has committed.

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