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View Diary: Rolling Stone Magazine Exposes how Mitt Romney Dodged his Taxes (252 comments)

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  •  Would the Amnesty include gag order too? (12+ / 0-)

    Would the amnesty granted to such tax evaders include language that will allow them to deny being a beneficiary?

    If someone asks Romney point blank, "Did you receive amnesty for tax evasion?" could he say no legally? Or would he be forced at best to take the fifth?

    •  SR - I can't think of a venue where Romney (6+ / 0-)

      would be required to answer that question under oath. If a reporter or politician asked he could say NO and even if that was not true no one from the IRS would blink. The IRS is subject to the strictest, criminal, confidentiality laws.

      For a variety of reasons I have stated many times I don't think Romney was part of any amnesty program and could honestly answer no. The big reason for me is that Romney has been a PWC client for a long time. If he was hiding money offshore they would have dumped him as a client because it would put the firm at risk. I know some of the people at the national tax office of PWC and they would never knowingly represent someone hiding offshore accounts and would cut them loose if they found out, even a client of Romney's stature.

      "let's talk about that"

      by VClib on Sat Oct 13, 2012 at 12:11:30 PM PDT

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      •  Thanks, (4+ / 0-)

        Like many who are not in the industry, I was under the impression these accounting houses are essentially franchises and each local firm is a partnership.  The willingness to skate on thin ice varies between the partnerships, even if they belong to the same Big accounting firm. That was somehow the image I had about the (used to be) Big Six firms following Enron scandal.

        •  I would take anything from that commenter (0+ / 0-)

          With a grain elevator of salt.  Said commenter consistently defends corporations no matter how ridiculous.  Commenter claims inside knowledge but has never once demonstrated any expertise or experience.  Continue your skepticism if all you have to rely on is VClib.  I think that commenter is somewhere between corporate apologist and low-key denialist troll.

          In capitalist America, bank robs you!

          by madhaus on Sun Oct 14, 2012 at 11:23:34 AM PDT

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      •  'Knowingly' is one link in absolute confidence. (0+ / 0-)

        There can be weak links throughout the chain other than those one knows at a national tax office.

        Willard has lied so successfully to so many for so long about so many things. There is no reason to believe it is beyond his capabilities, or beyond his non-existent conscience, to deceive his highly-respected accountants.

        To be less charitable, it's not beyond his capabilities to seduce strategic individuals, through various incentives, to accommodate his points of view.

        "Evil is a lack of empathy, a total incapacity to feel with their fellow man." - Capt. Gilbert,Psychiatrist, at the end of Nuremberg trials.

        by 417els on Sun Oct 14, 2012 at 04:09:32 AM PDT

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      •  Oh bullshit (0+ / 0-)

        Yet another claim from you with nothing to back it up, defending the corporations yet again.  Tell you what. Since you know the PWC partners so well, why don't you ask them what happened when their clients took tax amnesty?  I have a feeling they won't be denying they handled that situation.

        And did it ever occur to you that the clients didn't tell their CPAs about the tax shelters in the first place?  That they have their own accountants working these angles, and use a firm like PWC for plausible deniability?

        You are either incredibly naive or deceitfully misleading.  I wonder which it is?

        In capitalist America, bank robs you!

        by madhaus on Sun Oct 14, 2012 at 11:28:53 AM PDT

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        •  madhaus - you know that CPAs would never (0+ / 0-)

          discuss those issues. They are bound by confidentiality.  I am certain that PWC represented people as part of the amnesty program. I don't believe those people were long time clients. How could a CPA firm continue to work with someone who had lied about illegal activity when they were signing the tax returns, which were false? It would put the firm in real jeopardy.

          "let's talk about that"

          by VClib on Sun Oct 14, 2012 at 11:37:22 AM PDT

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          •  How could they? (0+ / 0-)

            Simple.  They did it for the Benjamins.  Do you seriously think accounting firms handling wealthy people are going to refuse to do business with them because of shady tax reporting?  Hell, they probably told them what their options were, along with "if you did that it would be illegal so we did not have this conversation."  Is this like when you tell us that the Bain model never profits from firms going bankrupt?

            I didn't say ask them who the clients were, but what they did in that situation.  You are one slippery player, but no sale.  Please address what I said, not what you wish I said.

            Again: ask these PWC people you claim to work with if they have any clients who took amnesty and how they handled it.  No particulars needed, just how PWC handled it.

            In capitalist America, bank robs you!

            by madhaus on Sun Oct 14, 2012 at 11:34:28 PM PDT

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