MarketNeutral
11th April 2010, 08:41 PM
The IRS has come out and clearly stated their goals of creating a globalized tax administration. Initially it will focus on high net worth individuals but, you can bet that once the system is in place, they will target less wealthy individuals and ordinary citizens who have chosen to live outside their county.
Yes, they are very proud of their new initiative, and it is just a matter of time before they will be working with other countries tax collectors because they are all going broke. They must continue to increase taxation and resubstitute whatever wealth you have left in order to stay in power. They have to get their GLOBAL mechanism in place so they can squeeze everything they can out of anyone they can.
Excerpts from CNSNEWS.COM
The Internal Revenue Service has launched a new global program to target what it calls “high wealth individuals,†IRS Commissioner Douglas Shulman said Monday.
“Through our new global high wealth operating unit we are taking a unified look at the entire web of business and economic entities controlled by high wealth individuals so we can better assess the risk such arrangements pose to tax compliance,†Shulman said at the National Press Club on Monday.
Shulman said the IRS is using “our robust and evolving enforcement program that ensures that everyone pays what they owe.â€
The IRS initiated its Global High Wealth Industry group in the fall. Schulman told an October 26 meeting of the American Institute of Certified Public Accountants that it would be part of “the globalization of tax administration,†which he called a “game changing trend†in tax enforcement.
“This brings me to another important development--a game-changing trend--the globalization of tax administration,†said Shulman.
http://www.cnsnews.com/news/article/63761
Yes, they are very proud of their new initiative, and it is just a matter of time before they will be working with other countries tax collectors because they are all going broke. They must continue to increase taxation and resubstitute whatever wealth you have left in order to stay in power. They have to get their GLOBAL mechanism in place so they can squeeze everything they can out of anyone they can.
Excerpts from CNSNEWS.COM
The Internal Revenue Service has launched a new global program to target what it calls “high wealth individuals,†IRS Commissioner Douglas Shulman said Monday.
“Through our new global high wealth operating unit we are taking a unified look at the entire web of business and economic entities controlled by high wealth individuals so we can better assess the risk such arrangements pose to tax compliance,†Shulman said at the National Press Club on Monday.
Shulman said the IRS is using “our robust and evolving enforcement program that ensures that everyone pays what they owe.â€
The IRS initiated its Global High Wealth Industry group in the fall. Schulman told an October 26 meeting of the American Institute of Certified Public Accountants that it would be part of “the globalization of tax administration,†which he called a “game changing trend†in tax enforcement.
“This brings me to another important development--a game-changing trend--the globalization of tax administration,†said Shulman.
http://www.cnsnews.com/news/article/63761