Month: November 2010

To answer this question, we first though we need to understand what the purpose of the tax code is. Surprisingly, the  primary purpose is NOT to raise revenue. Revenue is incidental to the US taxing system.   This is the most eloquent, efficient description of the purpose of the US income tax:   [It is the] product … Read more

IRS Most Interested In UBS Account Holders of Passive Foreign Income Companies
So what was the number one criteria the IRS used in determining which names of the  4450 UBS customers it…

Sometimes you guess right. Sometimes you guess wrong. I originally thought that IRS would simply want the 4,450 names of accounts with the highest value. Nope. My sources on the inside now inform me that the IRS went …