Daily Kos: A simple question for Mitt and Ann Romney

Daily Kos: A simple question for Mitt and Ann Romney:

A simple question for Mitt and Ann Romney

by rss@dailykos.com (teacherken)

In 2009 the Internal Revenue Service had a one-time amnesty for those who had failed to pay taxes on overseas accounts.  To quote from the frequently asked questions document on the program, issued in May of 2009, the objective of the amnesty program was

to bring taxpayers that have used undisclosed foreign accounts
and undisclosed foreign entities to avoid or evade tax into compliance with
United States tax laws.  Additionally, the information gathered from taxpayers
making voluntary disclosures under this practice will be used to further the IRS’s
understanding of how foreign accounts and foreign entities are promoted to
United States taxpayers as ways to avoid or evade tax.  Data gathered will be
used in developing additional strategies to inhibit promoters and facilitators from
soliciting new clients.

Those who had previously failed to report income on such accounts and entities could voluntarily disclose them and pay back taxes without being subject to penalties.