The Taxpayer Advocate Service, an oversight arm of the IRS, wrote in its annual report to Congress that a series of IRS voluntary disclosure programs allowing wealthy Americans to come forward and disclose their hidden accounts in exchange for reduced penalties had caused some taxpayers to pay more than they had been led to believe was required. Such taxpayers are typically those who have inherited accounts or work overseas.
I'm sorry...I was going to show you my shocked face, but I guess it's at the cleaners.
Wednesday, January 11, 2012
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