Treasury Secretary, Timothy Geithner to Imprison Thousands on Tax Charges (So when does he send himself to jail??)
The Internal Revenue Service will be more aggressive in collecting back taxes and prosecuting Americans accused of tax evasion, according to the new Treasury Secretary, Timothy Geithner.
The Internal Revenue Service, one of the Treasury Department’s agencies, claims that billions of dollars in income tax assessments were not paid by Americans. If not collected, annual unpaid taxes keep accumulating each year along with penalty and interest charges to create an inventory of “tax debts,” which approached $300 billion at the end of fiscal year 2007.
IRS has a complex process to collect unpaid tax debts by contacting taxpayers through notices, telephone calls, and in person. Because IRS has a very large debt workload and limited resources spread across multiple units, it must make numerous decisions about how best to handle debt cases. The complexity also arises because debt cases can take various routes based on about 70 IRS decision rules used for handling cases.
“A total of $332 million would be devoted to new Internal Revenue Service (IRS) enforcement efforts, including $128.1 million to add nearly 800 new IRS employees to combat… tax evasion and improve compliance with tax laws by businesses and high-income individuals,” said Treasury Secretary Timothy Geithner, himself an accused tax evader.
“Another $130 million would go to bolster the security of IRS information technology, improve the efficiency of its business systems and upgrade its fraud detection capabilities,” he said during a press teleconference.
(Excerpt) Read more at canadafreepress.com …
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