I saw this article on Digg earlier: Swiss bank to ID U.S. tax evaders
Banking giant UBS AG, Switzerland’s largest bank, agreed to pay $780 million to settle accusations that it helped U.S. customers hide money from the IRS. And in what the Justice Department described as an “unprecedented move,” UBS agreed to provide the names of up to 20,000 Americans who sought to avoid paying income taxes by keeping secret accounts.
This got me thinking… If the IRS were smart, they should make the following announcement:
Attention Tax Evaders:
Before UBS gives us the report, we would like to give all of you a chance to come clean. If you come clean now and admit to tax evasion, we’ll forgo any charges, fines, fees, interest, and penalties associated with the tax evasion. You’ll still have to pay off the taxes you owe us, but we’re going to give you a clean state afterwards. We’re also willing to work with you and/or your accountants to come up with a repayment plan if you’re unable to pay off all the back taxes immediately.
After we receive our report from UBS, the offer above will no longer be valid. We’ll be filing criminal charges for tax evasion on all remaining individuals who have not come forward. We’ll pursue every case to the fullest extent and request for maximum penalty and fines. Not only will you owe us the back tax, you’ll also owe us the accumulated interest, penalty fees and fines, legal fees, and anything else our lawyers can come up with to tack onto the list.
You thought you could fool us. Is it worth the risk to continue trying? Your call.
If only the IRS were smart…