This is just too ironic for words.
Today the, ummm, executive branch of our Federal government issued an edict–if you have tax problems you can’t do business with the Federal government.
Didn’t seem to be a problem before.
I don’t want to get political here but it seriously irks me that our firm has dozens of clients who could to receive life-altering financial penalties for offshore bank accounts, yet . . . this stuff happens. The laws are for the little people. “Little people” being defined as those without political connections.
I don’t know how many of my clients have mentioned Timothy Geithner in discussing their cases with me.
Has the United States become one of those countries, with one set of rules for “them” and another set of rules for “us”? Personally, I think so. I especially think so when I hear bland assurances from the IRS along the lines of “Oh, yeah we have these stiff penalties, but we are unlikely to apply them, so you’ll be OK.” Really? Then stop holding that giant club behind your back. Put it down. Then I’ll believe your good faith.
Hat tip: TaxProf.