05-28-2007, 02:08 PM
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Practice Makes Perfect
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Join Date: Oct 2004
Posts: 205
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American Express And Irs
NOT ONLY THOSE WITH OFF-SHORE BANK ACCOUNTS !
AMERICAN EXPRESS PROVIDES INFORMATION ABOUT ANYONE THE IRS WANTS TO KNOW ABOUT !
IRS gets credit card data
American Express to provide names of those who pay through off-shore banks.
March 12, 2002: 11:00 AM EST
NEW YORK (CNN/Money) - The Justice Dept. and the Internal Revenue Service are nearing an agreement with American Express to turn over the names of its credit card customers who pay bills through offshore tax havens, a newspaper reported Friday.
The IRS, which declined to comment, is attempting to identify people who are cheating on their taxes by paying bills through offshore accounts in places such as the Bahamas and the Cayman Islands, the Wall Street Journal reported.
U.S. District Judge Adalberto Jordan granted an IRS request for the documents held by American Express (AXP: Research, Estimates) and MasterCard in October 2000.
According to the report, tax-avoidance drains $70 billion from federal revenue each year.
In this scenario, a taxpayer hires a lawyer to set up a phony corporation offshore, then deposits unreported income into the account. By buying items with a credit card and paying the bill through the offshore account, the money is not traceable.
Taxpayers are required to report the money placed in offshore accounts, and the interest gained.
Obtaining the records would allow IRS investigators to compare customers' purchases with taxes. Penalties could include back taxes and criminal charges, the Journal said.
MasterCard International spokeswoman Sharon Gamsin said her company also is negotiating with the IRS to release records, the report said.
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05-28-2007, 03:33 PM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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This is going to be a big bust for the IRS if the credit card issuer releases information out.
__________________
Resolution pending
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05-28-2007, 10:40 PM
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Practice Makes Perfect
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Join Date: Oct 2004
Posts: 205
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Quote:
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Originally Posted by charlesa6
This is going to be a big bust for the IRS if the credit card issuer releases information out.
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Who is going to bust them ? They are already cancelling memberships and closing accounts for those that refuse to sign a document stating "income verification" which is then sent to the IRS, even those with a perfect payment history of over 20 years with good credit!
They tell people that should they refuse to sign the document that American Express will close their account.
If YOU close your own account and refuse to sign the document, they tell people that if they ever apply for American Express in the future they will not get a membership unless they are willing to sign the document that is sent to the IRS.
Last edited by truth4all : 05-28-2007 at 11:01 PM.
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05-28-2007, 11:06 PM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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It seems to me like they are telling you to take it or leave it. Is more or less dictatorship to me?
__________________
Resolution pending
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05-29-2007, 10:25 AM
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Come and Get Some!
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Join Date: Apr 2005
Location: Pennsylvania republic
Posts: 1,453
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Cashless Society
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Originally Posted by charlesa6
It seems to me like they are telling you to take it or leave it. Is more or less dictatorship to me?
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Now we see what a Cashless Society is good for, spying on customers so that the empire can then enslave them more efficiently.
__________________
"Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual."
-- Thomas Jefferson
It is dangerous to be right when your government is wrong. -Voltaire
All Rights Reserved.
www.restoretherepublic.net
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05-29-2007, 03:23 PM
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Mental Jujitsu
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Join Date: Dec 2006
Location: California
Posts: 673
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Quote:
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Originally Posted by truth4all
The IRS, which declined to comment, is attempting to identify people who are cheating on their taxes by paying bills through offshore accounts in places such as the Bahamas and the Cayman Islands, the Wall Street Journal reported.
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I guess I don't understand how an American could possibly "cheat" on his taxes when the entire IRS system is a phony, cheating scam..
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According to the report, tax-avoidance drains $70 billion from federal revenue each year.
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Good, wish it was more.
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Taxpayers are required to report the money placed in offshore accounts, and the interest gained.
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Why?
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Obtaining the records would allow IRS investigators to compare customers' purchases with taxes. Penalties could include back taxes and criminal charges, the Journal said.
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The only criminal charges I foresee are those that will be leveled against the IRS and its criminal agents. |
05-29-2007, 03:24 PM
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Mental Jujitsu
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Join Date: Dec 2006
Location: California
Posts: 673
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Quote:
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Originally Posted by BOBT12
Now we see what a Cashless Society is good for, spying on customers so that the empire can then enslave them more efficiently.
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The Cashless Society is one of the greatest looming evils confronting our times.. |
05-29-2007, 08:29 PM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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Quote:
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Originally Posted by BOBT12
Now we see what a Cashless Society is good for, spying on customers so that the empire can then enslave them more efficiently.
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Yea! Ain't that the truth?
__________________
Resolution pending
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