While Romney was "audit chairman" of Marriott, they got into massive trouble with IRS

[Tanuki]

http://www.bloomberg.com/news/2012-02-22/romney-as-auditing-chairman-saw-marriott-son-of-boss-tax-shelter-defy-irs.html

..."During Romney’s tenure as a Marriott director, the company repeatedly utilized complex tax-avoidance maneuvers, prompting at least two tangles with the Internal Revenue Service, records show. In 1994, while he headed the audit committee, Marriott used a tax shelter known to attorneys by its nickname: “Son of BOSS.”

A federal appeals court invalidated the maneuver in a 2009 ruling, siding with the U.S. Department of Justice, which called Marriott’s transaction and attempted tax benefits “fictitious,” “artificial,” “spectral,” an “illusion” and a “scheme.” Marriott had argued the plan predated government efforts to close such shelters.

Employing another strategy, Marriott legally avoided hundreds of millions of dollars in income taxes thanks to a federal tax-credit program criticized and allowed to expire by Congress. Marriott has also shifted profits to a Luxembourg shell company. During Romney’s years on the board, Marriott’s effective tax rate dipped as low as 6.8 percent, compared with the federal corporate statutory rate of 35 percent. "....
...."A version of that same strategy got others in bigger trouble. Partners at KPMG LLP counseled their clients on Son of BOSS structures, leading to a $456 million deferred prosecution agreement with the Department of Justice and causing the indictment of several former partners there, along with partners at Ernst & Young LLP. (The nickname is derived from an acronym for an earlier version of the shelter -- Bond Options Sales Strategy.) "

Much more on this crooked bastard and his shenanigans at the link. It becomes more obvious with every passing minute why he refuses to release his tax records and let "us people" get a load of what he has been getting away with all this time.

[tanyev]

1. That's because the IRS had the nerve to keep asking them for tax records.

[winstars]

2. He was named Willard after a scion of the Marriott clan, as Yogi said "you can look it up"

[Politicalboi]

3. With all these shoes droping

I hope the big one comes that may put him behind bars. That would be the best.

He's like a killer who got away with it, but needed to kill just once more and got caught. Maybe he wants to get caught.

[kestrel91316]

4. No wonder the fox wants to RUN the farm the henhouse is on.........