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International Tax — Why Ignorance Is Never Bliss

Law360 (January 20, 2009, 12:00 AM EST) -- The Chairman of the House Congressional Committee that writes tax law picked up a newspaper last August to discover that he has an international tax problem.

It could have been worse, but it would have been better if his tax advisors had spotted the $75,000 in unreported rental income from his condominium in the Dominican Republic before the papers did. But they didn’t, and now Charles Rangel, D-N.Y., has a tax problem that might have been avoided for a fraction of what it will cost to...
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