07-18-2012, 06:07 PM
Mitt Romney released his 2010 returns, but a key document is missing. It's called the FBAR - Foreign Bank and Financial Accounts.
Highly unlikely that he didn't file it, because not doing so would result in hefty fines. But it was withheld from the public release.
Why? What is Romney's Swiss account for?
"For individuals seeking to game the U.S. tax code, Swiss bank accounts are only useful when used illegally. Swiss accounts are prized by global elites for their extreme levels of secrecy. That secrecy has allowed thousands of American taxpayers to stash income from offshore companies in a Swiss account, shielding it from the IRS.
Romney, however, disclosed his Swiss bank account to the IRS in 2010, meaning that at least for 2010, the account was of no use to avoid paying taxes."
http://www.huffingtonpost.com/2012/07/18...83084.html
Highly unlikely that he didn't file it, because not doing so would result in hefty fines. But it was withheld from the public release.
Why? What is Romney's Swiss account for?
"For individuals seeking to game the U.S. tax code, Swiss bank accounts are only useful when used illegally. Swiss accounts are prized by global elites for their extreme levels of secrecy. That secrecy has allowed thousands of American taxpayers to stash income from offshore companies in a Swiss account, shielding it from the IRS.
Romney, however, disclosed his Swiss bank account to the IRS in 2010, meaning that at least for 2010, the account was of no use to avoid paying taxes."
http://www.huffingtonpost.com/2012/07/18...83084.html