Margaret Milner Richardson loses her breakfast...

[Robert Hettinga <rah@shipwright.com>]

>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)
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