Monday, May 18, 2009

You'd better watch out, you'd better not cry ...

... you'd better not cheat on your taxes, or you'll go to jail for up to 25 years and pay over half a million in fines.

The Senate just passed the Fraud Enforcement and Recovery Act of 2009, and it's in front of the House right now. They'll vote on it sometime around six this afternoon, so it's probably too late to write to your congressman, but here's something you should keep in mind:

"Under S. 386, the act of tax evasion itself—without the need or any subsequent financial transaction—would be treated as 'money laundering.' Thus, tax evasion would be punishable both under the tax code (which treats it a felony), and under the federal money laundering statute, which carries far greater penalties (20 years imprisonment and $500,000 fine, versus five years and $100,000)."

I don't know how many of you out there are "tax evaders", and frankly I don't want to know. But if you are, then you'd better watch your back, your front, and everything else you have, because the government's coming to town.

3 comments:

  1. This is all just part of the process of a goverment suppression move--first they increase the penalties. Then they change the definition of "evasion" to be "anything an individual or corporation does, or threatens to do, to limit their tax liability". Then, finally, they raise taxes to the point that under normal circumstances would cause revolt, but with the new penalties already in place they are able to intimidate and effectively enforce. We're going down a dangerous path here.

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  2. We need more people like you .... Looking out for the rest of us. I will make sure my I's are dotted and my T's are crossed. Don't want those kind of pentalies.... thanks stephen

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