Bloomberg Quotes Scott Michel on Restaurateur Rowen Seibel
Bloomberg spoke with Scott D. Michel about the restaurateur Rowen Seibel who was recently sentenced to one month behind bars after using undeclared Swiss bank accounts to hide over $1 million while also trying to join the IRS's voluntary disclosure program. Mr. Michel comments that taxpayers who join the IRS program to disclose secret accounts must disclose everything. “It is an essential component of the IRS's voluntary disclosure policy that a taxpayer coming forward must be truthful and complete,” said Mr. Michel. “Anyone who doesn't follow that rule will undoubtedly anger the IRS and, depending on the circumstances, perhaps be committing a separate crime.” For the full article, please visit the Bloomberg's website.