Out of the $11.4 million that the IRS spent on BlackBerrys and Internet aircards in fiscal year 2011, $1.1 million worth of the devices went unused for three months to a year, according to the Treasury Inspector General for Tax Administration. That means that nearly 14,000 aircards and more than 750 BlackBerrys weren’t activated for a chunk of the year. Sixty-eight BlackBerrys weren’t used at all, while still incurring the costs of a monthly cellphone plan. Further, the report found that there was a lack of oversight in how the devices are assigned – with about $950,000 worth being activated through the IRS without the required management approval. Continued misuse would cost taxpayers a total of more than $10.7 million over five years. [The Hill, TIGTA]
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IRS Announces New ‘Come Out with Your Hands Up Holding Your Offshore Bank Account Number’ Program
Back in 2009, the IRS ran a relatively successful program that encouraged those with offshore bank accounts to cop to their shady tax evading ways and all would be forgiven…with the exception of a small penalty of the assets stashed out of sight. This particular program was primarily focused on UBS customers and for those not willing to play ball, the IRS and DOJ put the screws on the Swiss bank and got them to name names.
The IRS had been hinting that maybe Offshore Amnesty 2.0 was coming and today, they made it official.
The Internal Revenue Service announced a new initiative on Tuesday intended to lure tax evaders, but with stiffer penalties than those offered by a previous program. Under the initiative, Americans with hidden offshore accounts have until Aug. 31 to come forward voluntarily and report the accounts to the I.R.S. in exchange for penalties that, while below what they would ordinarily pay, are still higher than those offered in an earlier amnesty program.
The good news is that the IRS swears – SWEARS! – that you’ll come to no harm, in the criminal sense:
The program makes clear that Americans who come forward will not to face prosecution for tax evasion — something tax lawyers say was more of an open question under the previous program. “When a taxpayer truthfully, timely and completely complies with all provisions of the voluntary disclosure practice, the I.R.S will not recommend criminal prosecution to the Department of Justice,” the I.R.S. said.
So unless the possibility of jail time sounds inviting, we suggest you get on this. We’re all dreaming of August right now.