In Historically hiding assets in Swiss Bank Accounts.
Swiss Bank account secrecy has only just recently been opened up. Prior to a year or so ago Swiss Banks were not obligated to and did not produce their American accountholder records to the IRS, income was sheltered there as the Swiss government protected their banks and banking industry to having to report it to foreign authorities. That is precisely why people sheltered money in swiss banks-why else? Did Mitt ski the French or Swiss Alps every year or have a chalet or swiss chateau and needed access to cash in Switzerland? Get serious! His accountants told him it was a political liability in 2010 because the reporting requirements changed. The question is how much did he stash there in years prior when no reporting obligation fell on the banks. Recall there was recently a deal struck with people who had accounts in an amnesty program- they could fess up and pay the taxes they didn't in years past or the Justice Department was going after them. When did Mitt open these accounts> and did he avail of the amnesty program.
http://www.huffingtonpost.com/2012/01/24/mitt-romney-tax-returns-released_n_1225247.html
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