Posted on 12/12/2009 9:50:19 AM PST by tired1
WASHINGTON (Reuters) - A new Internal Revenue Service unit set up to catch rich tax cheats hiding their wealth in complex business entities is rapidly taking shape with the hiring of hundreds of employees.....
President Barack Obama has proposed tightening tax rules for U.S. multinationals, including one in which companies delay paying taxes on income earned offshore, a legal practice known as deferral that officials say is abused....
"With any new thing, you never want to be the guinea pig," Mary Lou Fahey, general counsel for the Tax Executive Institute, comprised of business executives, said.
(Excerpt) Read more at reuters.com ...
IMHO, catching tax cheats (rich or otherwise) is NOT a bad thing. Everyone needs to follow the law. They should also go after politicians too.
Mark
So as always, this does not include his cabinet.
With such a complex tax code, I’m sure tax cheats can be found at will. In any case, here’s where the new jobs are! At the same time, how many businesses are going to relocate outside the country?
BIG politicians just never seem to be part of the equation like BIG business is however.
maybe it will also bring out more support for a flat-tax
They should start with the politicians and administrative offficials. They’re all wealthy and none of them seem to know how to pay taxes.
Agree. This could be a good thing.
Tell that to the multiple IRS agents who interpret the “law” differently for people...
They aren't cheating they are just making mistakes.
Must be those complex tax laws that GWB made worse when he was in office.
Yeah, THAT'S it it's Bush's fault.
I wonder how long it will take to get from DC to Hollywood? A decade, maybe two. Oh, I forgot, there’s that darn Mississippi. They’d just have to turn around and go back.
“Settle” with the rich and prosecute the poor.
Go Galt and be safe. There are other ways to avoid feeding the govt beast, but...
Folks talk about CW2 which is never going to happen. Moving to another country which hardly anyone does. Surrendering. Fiddling with the books and the chronic anxiety about getting caught.
And they talk about the sacrifices of those who came before, but they don’t seriously consider galting, it looks too damned hard.
Enough people stop paying taxes, the govt stops cold. Each of us holds the power to say no.
Nobody has to die for their country now, they just have to say no — or live it.
Think about going Galt. Live the “no.”
.....and how do we respect an unjust law?
If a law is unjust, a man is not only right to disobey it, he is obligated to do so.
- Thomas Jefferson
They aren’t cheating they are just making mistakes.
Oversights they call them, everyone makes them.
How are they tax cheats when they're simply using existing tax law to their advantage?
There are hundreds of legal loopholes in the system. If you had to fork over half of your income to the government, would you cheerfully pay it or look for ways to minimize it?
If it weren't for all those oversights and they had to calculate and pay like we do, they would never pass such complex and unfair tax laws in the first place.
Since they don't, well...
Heads up.
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