Now it appears that even the 2010 Tax Return that Mitt Romney leased is incomplete. The files he did release show that Romney had a Swiss Bank Account
“We have been very transparent to what’s legally required of us, There’s going to be no more tax releases given.”
.. he reported $1700 interest on his $3.000,000 investment!
In 2010, however, US holders of Swiss accounts were required to file a ” Report on Foreign Bank and Financial Accounts.”, These “FBAR” reports were created by the IRS to catch Americans using their Swiss accounts to hide illegal transactions. The penalty for not filing an FBAR can be severe, so Mr. Romney MUST have filed a form.
Why did he not make that form public? There are two possible reasons .. one is that he took advantage of an amnesty program the IRS offered to tax cheats. The amnesty program would have allowed Romney to conceal his admission nof guilt. The other possibility is that he has used the Swiss account fro transactions that, while legal, would not be good for the candidate’s image as an ethical businessman.
Either way, Romney’s Swiss cheese has a BAD smell!