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IRS collects $2.7 billion from amnesty

The Internal Revenue Service (IRS) has collected $2.7 billion from offshore bank account holders following the amnesty for US taxpayers with undeclared foreign assets.

Some 12,000 Americans responded to the second round of the amnesty, according to an IRS statement. This is in addition to $2.2 billion in taxes, interest and penalties which were collected from 15,000 taxpayers in 2009 in the first round of the amnesty.

“By any measure, we are in the middle of an unprecedented period for our global international tax enforcement efforts,” Doug Shulman, IRS Commissioner, said in a statement. “We have pierced international bank secrecy laws, and we are making a serious dent in offshore tax evasion.”

In other news, the England rugby team have won their second match in New Zealand, beating Georgia (who proved more of a threat than supposed) to go top of their group. The American Eagles are now third in their group after Ireland and Australia – I think that it will be tough for them to topple either of these teams and therefore it is unlikely they will make it past the group stages.


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