6:24 am September 21, 2009, by Henry Unger
How should tax cheaters be treated? And does the mounting federal deficit play into your thinking?
Tax dodgers who hid assets overseas will get a few extra weeks to apply for an amnesty program that has been flooded with applications ahead of Wednesday’s deadline, the Associated Press reports.
The Internal Revenue Service plans to announce today that the deadline will be extended until Oct. 15, a government official who spoke on condition of anonymity told AP.
More than 3,000 Americans have applied for the program, which promises no jail time and reduced penalties for tax cheats who come forward, said the official who was not authorized to speak on the record ahead of the public announcement, AP writes.
The program is not for drug dealers and money launderers. But if the money was earned legally, tax evaders can usually avoid criminal prosecution.
What do you think? Good or bad idea?
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