Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

MIDNITERIDER1438

(113 posts)
10. Fubar'd
Wed Aug 22, 2012, 09:31 AM
Aug 2012

This is an issue in serious need of a panel of tax lawyers, of which I am not one. I also believe that the omission of the Romney's 2010 Form 990-T on his $100 million plus IRA funds needs further scrutiny:

http://www.huffingtonpost.com/2012/08/17/mitt-romney-2010-tax-unrelated-business_n_1798152.html?utm_hp_ref=politics&utm_hp_ref=politics

And last, but not least, his 2010 Report on Foreign Bank and Financial Accounts (FBAR) has not been disclosed either, which would identify whether he participated in the Tax Amnesty program for his Swiss UBS bank account. This FBAR, which has it's origin in the Bank Secrecy Act, holds civil penalties pursuant to the American Jobs Creation Act of 2004, the maximum civil penalty for a non-willful failure to file is $10,000. Criminal penalties range astronomically higher in contrast, in which case the subject would be really "fubar'd".

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»General Discussion»The Guardian: Mitt Romney...»Reply #10