Tuesday, October 27, 2009

A Perfect Plan Goes Awry

Last Tuesday, I gave you a little insight into what the Treasury Department is doing to keep track of people trying to hide assets overseas, specifically in Switzerland. I even made comment in jest regarding Costa Rica … my home away from home. Well it seems that if you’re thinking that Costa Rica is off the IRS’ radar, no matter what your defense may be, you better think again. A.M Costa Rica reported that the IRS had cuffs put on three U.S. expats who thought they could outfox Geitner’s posse. The three are accused of running a tax scheme that teaches U.S. citizens why they don’t need to pay income taxes. Two of them, a husband and wife, didn’t pay 2001 income taxes, sold their assets in California and filed a false bankruptcy petition. Tax fraud in Costa Rica is nothing new. But what’s interesting in this case is that the two women then went on a PR campaign to stay in Costa Rica as political refugees hoping to capitalize on the country’s tendency to welcome female fugitives from the U.S. Their sob stories didn’t work, and they face a boatload of charges. You can read the complete tale at: http://www.amcostarica.com/091509.htm#32. Best wishes, George

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