“Consider 79 year-old Mary Estelle Curran of Palm Beach who inherited Swiss and Liechtenstein accounts when her husband died in 2000. She failed to report them and the IRS lost out on approximately $667,716 in taxes. That’s a lot of money to be sure, but the size of her penalty was, well, enormous: 50% of the highest balance: $21,666,929. And that’s not all. She was facing serious jail time too. And it seemed doubly unfair that she was unsophisticated and had tried to come forward to the IRS long before. Fortunately, though, U.S. District Judge Kenneth Ryskamp eased up, even suggesting that the government could probably use a little more discretion.”
Related posts:
Lasers reveal lost Mayan civilization of 'unimaginable scale'
GCHQ and NSA targeted charities, Germans, Israeli PM and EU chief
Solar power to trump shale, helped by US military
Number of names on U.S. terrorist watch list jumps to 875,000
Inside TAO: Documents Reveal Top NSA Hacking Unit
Police on Alert As Merkel to Visit Greece
Rich Danes Face Benefit Cuts as Universal Welfare Abandoned
Smugglers use cannon to fire 85 pounds of marijuana into Arizona
Trump Promises Death For Killing A Cop, Endorses Police Militarization
Don’t laugh - Bitcoin is making a serious point
Marc Rich, King Of Commodities, Dead At 78
Meet The Man Behind Booming Black Market Drug Website Silk Road
Philadelphia applies retroactive lap dance tax at gentlemen's clubs
Manny Pacquiao prefers to fight in China because of high U.S. taxes
Doors swing open for advocates of marijuana legalization on Capitol Hill