Senators Carl Levin, D-Mich., and Sheldon Whitehouse, D-R.I., introduced the Cut Unjustified Tax Loopholes Act, also known as the CUT Loopholes Act, or S. 268, on Monday. The bill was introduced in the midst of a congressional and White House showdown over the impending budget sequestration and growing calls for corporate tax reform, but builds on earlier legislation introduced by Levin in previous congressional terms (see Senators Introduce Bill to Cut Tax Loopholes). This bill, which closes loopholes and strengthens enforcement measures against offshore tax haven abuse, could raise nearly $200 billion over 10 years, according to estimates. [AT]
- Caleb Newquist
- August 13, 2009
In another case of former a IRS Agent having reckless disregard for their old employer (i.e. the Federal Govt.), a 76 year-old former agent was sentenced to nearly four years in prison for his part in a fraudulent tax scheme that went on from 1998 to 2000. Thomas Steelman was also ordered to pay more than $10 mil back to the Service.
The old guy really worked hard at his craft too:
He took part in promotional meetings, conferences, rallies and telephone conference calls to promote Renaissance’s services and recruit clients, according to prosecutors. Steelman was also a featured speaker on Renaissance’s promotional videotapes.
From the sound of it, this guy Steelman was the
Peter Olinto Tim Gearty Rick Duffy of Renaissance, The Tax People, the defunct company he worked for. It disappoints us how the pleasure of serving your country, as crusader for tax compliance, would eventually lead to a life of a scofflaw and tax avoidance. We are truly saddened that there continues to be very few true tax heroes among us.
Ex-IRS Agent Sentenced to 46 Months for Tax Fraud [Web CPA via TaxProf Blog]
Grover Norquist Is Adequately Prepared for Anyone Who Might Try to Burn Washington, D.C. to the Ground
- Caleb Newquist
- July 14, 2011
In case you haven’t been paying attention, GOP Taskmaster Grover Norquist takes his Taxpayer Protection Pledge very seriously. So serious in fact that not even a conservative stalwart like Tom Coburn has come under repeated attacks from Norquist and Americans for Tax Reform. So serious that not even our grandmothers’ lives will be spared were terrorists to demand that we raise taxes 1% on the highest earners.
This, understandably, has made Norquist a little paranoid. If someone were able to infiltrate ATR HQ with an army of ninjas, collect all the signed pledges and throw them into an incinerator, how could he continue holding the entire Republican party by their flag-wrapped testes? There would be no tangible proof that these sacred documents were, in fact, signed in front of two witnesses (as is required). Worry not, fiscally frugal readers, Grover is far too smart for that. As the Washington Post reports, GN has taken the necessary precautions to avoid such a catastrophe:
“I keep the originals in a [secret] vault, in case D.C. burns down,” said Norquist, referring to the pledge that his organization asks politicians to sign, vowing to “oppose any and all efforts” to raise taxes. “When someone takes the pledge, you don’t want it tampered with; you don’t want it destroyed.”
So bring your sissy Democrat political operatives, your ink bombs, your pledge-sniffing dogs. You’ll have to do nothing less than sic Jack Bauer on Grover if you want to get your mitts on those pledges. And even if you do, don’t think your grandmother won’t pay the price.
Pastor Withheld Communion Because ‘It’s a Spiritual Thing,’ Not Because Members Kept Their Tax Refunds for Themselves
- Caleb Newquist
- March 18, 2011
There are demons in his flock!