February 25, 2010 - Phil Hodgen

Hey IRS, if you want to know how to do an amnesty

. . . look at Italy.

Quiet, simple, no heavy penalties, nothing required from the taxpayer which would rat out someone else.

Ninety! Five! Billion! Euros! declared, and another &#8364 30 billion expected because they extended the deadline from 15 December 2009 to April 30, 2010.

Dear IRS,

Your long-term profit-maximizing strategy is to get people legal, declared, and on the table. Then you’ll collect income tax during their lives, and estate tax when they die.

Your profit-maximizing strategy is not well-served by enticing volunteers to step forward then poking them with a pointed stick dropping a 16 ton weight (YouTube) on their heads.



Voluntary Disclosure