... 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.
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