From the Wall Street Journal Wednesday October 2, Page 1:
Use of the internet to attract tax-dodgers rings alarm bells at the IRS. The rapidly expanding new worlds of the internet and electronic money are stirring deep concern at the IRS. "We know that some foriegn banks are now using the internet to solicit new customers with promises of complete anonymity and a haven from all taxes," IRS commissioner Margaret Milner Richardson said. She said this issue is being "carefully monitored" by tax administrators around the world. Ms. Richardson, in a recent speech, cited a world-wide-web advertisement offering a "one-of-a-kind book" covering topics such as, "Banking in Silence" and offering information on setting up an offshore trust that "could include protection from a large IRS assessment." Ms. Richardson's reaction: "I almost take that personally." Another ad touts "excellent interest rates, offered in a stable, tax-free environment...Clients communicate with the bank any time from anywhere via the internet." Ms. Richardson said: "How would you like to be responsible for administering tax laws and have to read these ads over breakfast?" Cheers, Bob Hettinga ----------------- Robert Hettinga (rah@shipwright.com) e$, 44 Farquhar Street, Boston, MA 02131 USA "'Bart Bucks' are not legal tender." -- Punishment, 100 times on a chalkboard, for Bart Simpson The e$ Home Page: http://www.vmeng.com/rah/