The idea of tying travel to taxes has been percolating in Washington for years. The IRS and Justice Department cooperate. For example, they can have tax cheats arrested when they land on U.S. soil. Adding to the mix is FATCA, the Foreign Account Tax Compliance Act, which penalizes foreign banks that don’t hand over American account holders. But, now, the feds want to go after people even if they are reporting everything correctly, but have unpaid tax debts.
During a recent segment on The Robert Scott Bell Show, certified public accountant (CPA) Ty Bollinger explains how many childhood vaccines, as well as the influenza vaccine, are basically exempted from normal revenue recognition rules. These special rules allow vaccine companies to immediately recognize revenue from vaccines for stock price and profit purposes, even if those vaccines are never manufactured or delivered.
“The primary objective in purchasing the vaccines… is not to take delivery but rather to be able to require delivery on a moment’s notice. The hope of both parties to these contracts is that the vaccines will never be needed, and thus never delivered.”