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March 4, 2011 - Phil Hodgen

Penalty is 500 times the amount of tax due

in my Twitter stream this morning:

@philiphodgen Is the IRS waging a class war against wealthy expats? Did not file FBARs and made errors, tax due $2 penalty $1 million

@philiphodgen To clarify, tax due for six years of returns, about $2k, penalty of over $1 million

No comment necessary. But your comments will be appreciated.

The Twitter account is @FurkaMan. You can look at his Twitter stream at twitter.com/furkaman. He is stirring up some noise. You go, @FurkaMan!

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