Why isn’t he in jail? I would be.
There is a difference between genuine ignorance and WILLFUL IGNORANCE! Guess which category I would put former Senator, current Lobbyist Daschel? As I posted about our new Treasury Secretary, I speak from the position of having been a seasonal tax preparer and I would have EASILY said that anything more than the $12k gift limit triggers tax consequences. The IRS carries this even into the barter arena so the idea that it is just between friends to have a car and chauffeur over 3 years and not think that this has tax consequences is RIDICULOUS!
When they call the roll in the Senate, the Senators do not know whether to answer “Present” or “Not guilty.”
- Theodore Roosevelt
Boy, TR must have had a time machine and viewed the Obamaloon collection.
I would also like to hear more of the 'quid pro quo' reasons behind WHY Daschle was being given a free limo and driver, and why that means about his Blagojevich-style ethics.
Statute of Limitations for IRS Assessments
General Rule - The IRS is required to assess tax within 3 (three) years after the return was filed. See section 6501(a) of the Code and section 301.6501(a)-1(a) of the regulations. Similarly, no proceeding in court without assessment for the collection of any tax can begin after the expiration of 3 years. See section 301.6501(a)-1(b) of the regulations.
Yet another? I wonder how the Old Gray Hag chose the number of tax cheats that were acceptable.