Did Romney hide his Swiss bank account from the IRS before 2010?

[Cali_Democrat]

New Thoughts About What's Hiding in Romney's Tax Returns
By Josh Barro Jul 17, 2012 3:02 PM PT

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Matt Yglesias has another theory about what Romney is hiding: that he hadn't always been disclosing the Swiss bank account that's mentioned in his 2010 return. In 2009, the IRS offered an amnesty to taxpayers who had been hiding Swiss accounts: basically, disclose and pay what you owe now, and we won't try to send you to jail. Yglesias wonders if Romney took that deal.

The main problem with this theory is that Romney appears to have listed the account on his Federal Election Commission financial disclosure statement back in 2007, the last time he was running for president. You can see "UBS Money Market Account" on the third page; ABC News notes the account wasn't clearly flagged as Swiss, but it's there. It's possible that Romney told the FEC about the account while hiding it from the IRS, but that doesn't seem very smart.

http://www.bloomberg.com/news/2012-07-17/new-thoughts-about-what-s-hiding-in-romney-s-tax-returns.html

[siligut]

1. He has more than one UBS account?

One he didn't list in 2007?

[Cali_Democrat]

3. We don't know if he reported it to the IRS in 2007

because he won't release his returns. He did report one Swiss account to the FEC in 2007.

If it turns out that he reported it to the FEC, but he didn't report it to the IRS...he's in some real trouble.

[rucky]

2. Isn't that why people get Swiss bank accounts in the first place?

[ProSense]

5. Yes,

"Isn't that why people get Swiss bank accounts in the first place"

but if we know about it now.

[ProSense]

4. OMG

What if Romney participated in or missed the amnesty period?

Amnesty Program Yields Millions More in Back Taxes
http://www.nytimes.com/2011/09/16/business/amnesty-program-yields-millions-more-in-back-taxes.html

If Mitt did participate, could it explain the $100 million IRA: http://www.democraticunderground.com/1002938141

This is getting good.