Did Mitt Romney take the Swiss bank account amnesty program? He was actively running for the GOP presidential nomination in 2007 and 2008, therefore, it’s high unlikely that his tax returns for the previous five years couldn’t withstand scrutiny. After all, John McCain’s campaign took a look at his tax returns for 23 years. Slate poses a great question, what happened in Mitt Romney’s finances in 2009 and beyond why he’s adamant against releasing more tax returns — could it be a Swiss bank account amnesty?
Los Angeles Times: Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a Thursday deadline to disclose those accounts or face possible criminal prosecution. The concern was triggered this summer when Switzerland’s largest bank, caught up in an international tax evasion dispute, said it would disclose the names of more than 4,000 of its U.S. account holders.
Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for having failed to report their overseas accounts. As a result, tax attorneys across the nation have been besieged by wealthy clients who are lining up to apply even though they will still face big financial penalties.
Of course, this is pure speculation, but it’s not out of the realm of possibilities. It seems Romney had no issue opening up his tax returns to the McCain people, so what happened in the years after 2008? Interesting.