Eagle Owl : If I were a 'White Owl' I wouldn't give a hoot for you. (That's an old joke, but the video is pretty neat.)

Be Careful What You Say When Cameras Are Rolling...Is this the way Bank of America does business?

About 20 seconds into the video...listen...something tells me that this is not the way business should be conducted but as Walter Cronkite would say, "That's the way it is...Friday, August 26, 2011."

Sheriffs begin thumbing their nose at Obama...maybe they ought to arrest him and his cronies

Obama's executive order undermines the rule of law...

Think about that.  Is it not violating the law?  Of course it is.  Obama and his cronies are not above the law and therefor should be arrested just like any other criminal.  Now you say, "We cannot arrest a president, he has to be impeached first and then tried by the Senate."   To the best of my knowledge there is no such law that prevents any law enforcement officer from arresting anyone in their jurisdiction who violates existing laws.  The impeachment process is restricted to the U. S. House of Representatives and inside that ten square mile corporation known as Washington, D.C.  Outside those boundaries, the president and his cronies are fare game...and the power to arrest falls to the county sheriffs (actually the most powerful law enforcement officers in the land...they are the only elected law enforcement officers, all others are appointed ...the US Supreme Court had something to say about this in the Sheriff Mack Vs Bill Clinton's Brady Bill decision).  ~ Norman E. Hooben

________________

Next Video: World Revolution Wake Up People!! 

Starbucks' Howard Schultz For President...he's hitting the politicians where it hurts; their wallets!

...a platform for action

This from CNN
100 CEOs pledge no political donations

FROM CNN's Jack Cafferty:

Maybe Washington will finally listen... now that some in corporate America are taking aim at their bank accounts.  This has the potential to get interesting.
More than 100 CEOs have signed a pledge to stop all political campaign contributions until lawmakers stop the gridlock. That could be a while.
Starbucks CEO Howard Schultz is leading the movement. He says it seems like lawmakers are only interested in re-election... he's right about that... and that the lifeblood of re-election is fund-raising.
In just a week - Schultz has gotten more than 100 business leaders on board... including the CEOs of AOL, Whole Foods, Intuit, Zipcar, J. Crew... and billionaire investor Pete Peterson.
Schultz says his initiative has "triggered a national dialogue and a groundswell of support." He hopes ordinary Americans join in too.
The pledge has leaders agreeing to stop campaign contributions until lawmakers strike a "bipartisan, balanced long-term debt deal that addresses both entitlements and revenues."
...Read more here

Cross-posted from his Facebook page, Howard Schultz writes the following:

August 15, 2011
Dear Fellow Concerned Americans:

Our country is better than this.
Over the last few weeks and months, our national elected officials from both parties have failed to lead. They have chosen to put partisan and ideological purity over the well-being of the people. They have undermined the full faith and credit of the United States. They have stirred up fears about our economic prospects without doing anything to truly address those fears. They have spent a resource even more precious than the dollar: our collective confidence in each other, in the future, and in our ability to solve problems together.
As leaders in business, we have watched all this unfold, first with frustration and then with dismay. Like so many of our employees and customers, we are gravely concerned about the current situation. Today, with both humility and urgency, we propose to do something about it.
First, we aim to push our elected leaders to face the nation's long-term fiscal challenges with civility, honesty, and a willingness to sacrifice their own re-election. This means not kicking the can anymore. It means reaching a deal on debt, revenue, and spending long before the deadline arrives this fall. It means considering all options, from entitlement programs to taxes.
This is what so many common-sense Americans want. That is why we today pledge to withhold any further campaign contributions to the President and all members of Congress until a fair, bipartisan deal is reached that sets our nation on stronger long-term fiscal footing. And we invite leaders of businesses – indeed, all concerned Americans – to join us in this pledge.
We also believe in leading by positive example. And we believe that while the long-term fiscal challenge is serious, even more painful to millions of Americans today is the immediate crisis of jobs. Tens of millions are unemployed and underemployed. Right now our economy is frozen in a cycle of fear and uncertainty. Companies are afraid to hire. Consumers are afraid to spend. Banks are afraid to lend. Record levels of cash are piling up in corporate treasuries, idling. That cash is not being used to expand operations, train new workers, underwrite new ventures, or spark innovation.
The only way to break this cycle of fear is to break it. The only way to get the country’s economic circulatory system flowing again is to start pumping lifeblood through it. That is why we today issue a second pledge. Our companies are going to hire. We are going to accelerate growth, employment, and investment in jobs.
We do this because we want to set in motion an upward spiral of confidence. We are not waiting for government to create an incentive program or a stimulus. We are not waiting for economic indicators to tell us it’s safe to act. We are hiring more people now. We invite leaders of businesses across the country to join us in this pledge as well – and to bring their stakeholders into the effort. Confidence is contagious. The best thing we can do now is to spread it.
This is a time for citizenship, not partisanship. It is a time for action. We don't pretend that our two pledges are quick fixes. We just believe that in this moment of great uncertainty, the government needs discipline, the people need jobs – and leaders need to lead.
Our country is better than this. Let’s get things moving now.
Respectfully,

Howard Schultz

Afghanistan: Rules Of Engagement (ROE)...Have we gone too far? (This may be the biggest WTF moment of the war !)

Personally I'd be embarassed to give such a command and/or follow such a command.

For Marines in Afghanistan: be careful where you fart
Story from: Military Times

Marine Corps Times is a family newspaper and we only rarely have offensive language in our stories.
But this week the word “fart” appears in a story I wrote about the importance of trust between Marines and the Afghan national army soldiers they work with.
I didn’t want to write this little blog entry about farts. It’s not even on my beat. But my colleague Dan Lamothe, whose byline you have seen here quite often, shamed me into it.
“You owe it to all Marines,” he told me.
So here’s the news: audible farting has been banned for some Marines downrange because it offends the Afghans.
I know there are many things in the Afghan culture that don’t seem normal to Americans and it’s hard to spend seven months working in someone else’s back yard. Still, the Marines I saw downrange are doing a pretty good job at trying to do the right thing around the Afghans.
They’re not supposed to cuss because it could be misunderstood (that one goes out the window a lot). And they stay away from talking about politics, religion or girls because those topics could escalate into major disagreements (they can’t communicate anyway because of the language barrier).
But farting? That’s practically a sport. Ok, it’s not soccer, but a good contest could open the door for cross-cultural exchanges, jokes and other gallows humor.
So, for all Marines getting ready to go downwind, I mean downrange, be forewarned — you may have to hold it in… at least until you get back to your hooch where you can loudly crop dust your friends.
Read all the comments here: Battle Rattle

When Dictators Dictate...this is what you get

Warning ! Contains Graphic Images Of Nazi Concentration Camps

From Archive.org

The video may take a few seconds to load...

To witness the location of these atrocities visit Dachau, Germany much of the prison camp has been preserved as a reminder...NEVER AGAIN ~ I visited there in 1980.  The images are still fresh in my mind...I don't want to go back.  ~ Norm

Global Warming: You cannot prove it is casued by CO2...period ! End of story ! (but watch the video anyway)

Its the United Nations stupid...

Ok, so you don't like to be called stupid but lets take a look at its meaning:

stu·pid

ˈstupɪd, ˈstyu‐/ Show Spe[stoo-pid, styoo‐]  adjective, -er, -est, noun

adjective

1. lacking ordinary quickness and keenness of mind; dull.

2. characterized by or proceeding from mental dullness; foolish; senseless: a stupid question.

3. tediously dull, especially due to lack of meaning or sense; inane; pointless: a stupid party.

4. annoying or irritating; troublesome: Turn off that stupid radio.

5. in a state of stupor; stupefied: stupid from fatigue.

All global warming advocates, that is all followers of the Al Gore school of thought display one if not more of the above traits.  The problem is, they have never listened to themselves.  If they did they would say, "Prove it!"  The problem is, they can't!

Petty Officer Tumilson and Hawkeye, his best friend

Note: This post was updated with the addition of a small tribute video below the picture.
Our friend Meg recorded the version of Danny Boy...the rendition even without the words has a special meaning to me and I think to all who go off to distant lands for patriotic causes...I did not know Tumilson but I'm sure he was somebody's Danny Boy.  ~ Norman E. Hooben

Also see: The Execution of Seal Team 6 Added August 30, 2011

Some pictures you can describe and some pictures leave nothing to describe, that is why it is said, "A picture is worth a thousand words." ~ Norman E. Hooben

_______________

The following from: KIMT_Channel 3

Rockford, IA - A North Iowa hero is back home after dying for his country. About 1,500 people showed up today at the Rockford Senior High School to say good-bye to Navy SEAL Jon Tumilson. Jon's sisters Kristie and Joy describe their brother as someone they looked up to, and who always showed strength courage and determination.  Fellow Navy SEALS say Jon was someone with unmatched work ethic and character.As Tumilson is brought to his final resting place, family and friends know he died living out his passion.

This from me:
I didn't know Tumilson personally but personally I am angered in his untimely death.  From all the news that came following the so-called death of Osama Bin Laden and the heroics of Seal Team 6, I am personally convinced his death was in vain and was caused by the usurper in the White House vying for some political advantage in the upcoming elections of 2012.  As for Bin Laden he most likely died of kidney problems some years earlier (even some of Bin Laden's video releases were proven to be fake) or he may have been killed in some bombed out cave...who knows?  I also believe that Pakistan was involved with the raid on the faux Bin Laden's compound after all Obama has Pakistani friends from his visits there as a student... Americans may never know the full story but I believe in what I believe because the liar in the White House has never spoken the truth about anything.
Meanwhile I am touched by the picture of Tumilson's flag draped casket kept watch by his faithful dog Hawkeye... this is the kind of thing that brings a tear to my eye, for I am a dog lover and former career military person who was fortunate enough to make it through unscathed during my tour in Vietnam.  I have seen the ravages of war and know what it can do to an individual and I know that there will be wars and rumors of wars (a really Big Guy told me) and I know all about the unconditional love a dog has for his companion (some would say, "His master" but all my dogs were my best friends).  And although the author is unknown, I tend to believe the following:

 "The dog is the only animal that has seen his god." (Don't know if that should be a capital G, but the dog knows)

Hawkeye in the picture below has not only seen his god, he is now taking commands from Petty Officer Tumilson, his best friend... ~ Norman E. Hooben

video tribute

IBM offered to save the American Taxpayer 900 billion...the commies turned the offer down!

The following news item (see video below) is almost a year old but somehow did not receive wide distribution among the main stream media.  Certainly main stream America is totally ignorant* of such newsworthy information...its the kind of information that Obama voters never hear and when they do its already old news, then they can care less...its that kind of information that some will say, "I wish I knew that before I voted for him."  Also, I would venture to say that Nancy Pelosi and Harry Reid did in fact know this information prior to shoving the Obamacare legislation down our throats.  What am I talking about?
Prior to the now infamous  Affordable Health Care Act, otherwise known as ObamaCare, passed either house of Congress, Sam Palmisano, the Chairman and CEO of IBM, offered to Obama and his clan of communist czars, a plan to reduce fraud, waste, and abuse from the nation's healthcare programs.  The projected savings to the American taxpayers was estimated to be over $900 billion.  What  was IBM going to receive for this much needed plan?  Nothing! Zero! Zilch! Nada!  Any patriotic president would have jumped on this in a heartbeat...save the taxpayers nine-hundred billion dollars and it won't cost an Alabama red-dirt cent.  Of course Obama's only patriotism leans toward third world countries like Mexico, Venzuela and countries that promote sharia law, so he'll have nothing to do with Palmisano's plan.
The subject was picked up again on this evening's radio show in which I co-host and we gave it about five minutes.   So take another five minutes and look at this video...  What do you see?

It never ceases to amaze me how anyone in the news media or any person in a responsible position such as Mr. Zuckerman, Editor-In-Chief of U.S. News and World Report refuse to point out the obvious.  Mr. Varney (the moderator in the video) is also guilty.  They use terms like, "Its puzzling." or "I can't find a reason that makes sense to me."  I never hear anyone in the newsmedia telling it like it is...OBVIOUSLY IS !!!   The absolute reason Obama does what he does is, he hates America and his mission in life is to destroy America and all she stands for...this is a fact and nobody has ever proven otherwise. ~ Norman E. Hooben

*At the time I posted this video from YouTube  there was only 40,025 views yet this is the kind of news every American, especially the voters, should and must know to make an  informed decision.  Why were they not 50,000,000 (that's fifty-million) views?  According to the U.S. Census Bureau there were 225,499,000 registered voters for the 2008 presidential election.  Out of that number 131,144,000 actually voted.  Do you think for a minute that Obama would be in office if fifty-million voters knew what they know now?  Yes, main stream Americans are ignorant!

Let me be clear...

The Greatest Heroes Of The War

The greatest heroes of the war do not receive a paycheck...
The greatest heroes of the war did not volunteer...
The greatest heroes of the war never complain...
The greatest heroes of the war are friends of mine*...
The greatest heroes of the war never question authority...
The greatest heroes of the war will not tell their grandchildren...
The greatest heroes of the war are a rare breed...
The greatest heroes of the war are here











*With over twenty-one years in the United States Air Force Veterinary Services and two tours of duty at the Military Dog Training Center, all military dogs are indeed friends of mine.

The VIX factor...maybe your best bet ~ Investing In The Fear Factor

The only thing you have to fear is fear itself  Obama himself.

Lets face it, we had little to fear before Obama came on the scene...

Now everyone is so fearful even Henny Penny won't come out from under the barn.

From: The Windsor Star

Shell-shocked investors flee to safe havens
Agence France-Presse

NEW YORK - Fears of a new recession have wiped trillions of dollars in value from global stock markets in recent weeks and sent investors scurrying to assets they view as less risky.
But are “safe havens” like gold really safe? Here are several of the refuges where panicky investors have been shifting their portfolios amid the market turmoil, and the pluses and minuses of each:
GOLD: The price of gold, a time-honored store of value, skyrocketed to a new record of $1,878.15 per ounce on Friday, and some analysts say it could go above $2,500 this year.
The World Gold Council, an industry body, predicts that strong demand in India and China will continue to prop up the gold market this year.
“A developed world with slower growth, a large fiscal deficit and near zero rates over the next few years, inflationary pressures in emerging economies, and larger political and economic uncertainty bodes well for historyís oldest form of wealth,” Barclays Capital said.
Skeptics argue that gold has little inherent value and is vulnerable to sudden drops in price. In the two decades before 2003, its price was essentially flat, mostly hovering between $300 and $400 per ounce.
US TREASURIES: US government debt has long been seen as “risk-free”, and paradoxically this has remained the case even after Standard & Poor’s downgraded the United States this month.
Prices have surged in recent weeks, as spooked investors bought Treasury debt on which yields had fallen virtually to zero percent, or a loss if measured against inflation.
The 10-year bond dropped to a record low of 1.974 percent on Thursday, before pushing back just above the 2.0 percent line.
“It wouldn’t shock us to see another quick sharp move and then staying under two percent especially if the eurozone issues worsen,” said George Goncalves, head of US rates strategy at Nomura.
But he cautioned that the bond rally might lose steam: “We believe that the majority of bond market gains are behind us,” Goncalves said.
SWISS FRANCS: Switzerland’s currency has proved a popular safe haven for those who fear their dollars or euros will fall due to stagnant growth or possibly inflation.
Over the past year, the Swiss franc has gained more than 30 percent against the dollar and over 16 percent against the euro.
However, this month Switzerland’s central bank began intervening to halt the rise of the currency, tarnishing its appeal as a safe haven.
JAPANESE YEN: Japan’s currency hit a post-World War II record of 75.95 yen against the dollar on Friday, even though Japan has vowed to contain the rise of the yen to protect its vital export sector.
“There is no reason that the yen should be regarded as a flight-to-safety currency,” Takehiko Nakao, Japan’s vice finance minister for international affairs, told Dow Jones Newswires on Friday.
THE VIX: When markets are fearful, one of the best investments may be to buy fear itself — contracts tied to the Chicago Board Options Exchange Market Volatility Index, better known as the VIX.
Often called the “fear gauge”, the VIX is a measure of the volatility of the S&P 500 stock market index and tends to spike when investors think a crash is imminent. It jumped 35 percent during Thursday’s big sell-off.
Not a safe haven in the traditional sense, sophisticated investors use VIX derivative contracts to protect themselves from volatility.
Trading in VIX-related contracts “exploded in volume” in the past two weeks, said Adam Warner, an options analyst with Schaeffer’s Investment Research.
US FARMLAND: Some say the most reliable way to hedge against catastrophe can be to buy US farmland, which has surged in value this year as food prices have soared and bad weather has tightened the global food supply.
The value of farm acreage in the five US midwest farm states grew 17 percent in the second quarter of 2011, its largest year-on-year increase since the 1970s, according to the Federal Reserve Bank of Chicago.
“Since the financial crisis, we’ve seen investor interest rise every year,” Stephen Johnston, chief investment officer for Agcapita, a Canadian farmland investment fund, told AFP.
Read more here: The Windsor Star

News You Can Use: Obama releases tax dogs on all Americans living and working overseas

Americans living in Canada risk facing massive tax penalties

By Don Cayo, Vancouver Sun

An Aug. 31 deadline looms for an untold number of Americans living in Canada — certainly many thousands, and possibly hundreds of thousands — who are at risk of massive penalties from the IRS, even if they have no U.S. income, owe no back taxes and haven’t lived in the States for years.

Huge numbers of Americans don’t know the IRS requires all U.S. citizens living abroad to file annual tax returns. They must disclose their foreign bank accounts and other holdings even if they have no American tax liability. So says Warren Dueck, an accountant whose Richmond-based firm specialized in U.S.-Canada tax issues.
And, although the law has been on the books for years, the issue is being brought to a head by a new push to enforce this provision much more vigorously than in the past.
The Aug. 31 deadline is for an Offshore Voluntary Disclosure Initiative introduced last winter to encourage non-resident Americans to make the required disclosures. For those who meet the deadline, it provides for reduced — but still hefty — penalties, although it also holds out at least some hope that the penalties could be waived.
But Dueck, who says he and his colleagues are swamped with requests for help from new clients, thinks it may already be too late for many to meet the complex filing requirements in time.
The only alternative that will be left, he said, is a provision called “quiet disclosure.”
Although it amounts to little more than confessing and then begging for mercy, he recommends it for anyone who doesn’t get the proper paperwork filed in time for the deadline. It offers at least some hope of being better than the alternative.
The alternative may be grim. Among the penalties the law sets out for failure to disclose such things as bank accounts, or “trusts” like RESPs and TFSAs, Canadian corporations and partnerships, or Canadian mutual funds, are fines of $10,000 per offence per year. (That is, for non-wilful offences. The penalty is $100,000, or can go as high as 50 per cent of a major asset, if the IRS thinks there was deliberate attempt to cheat it of revenue.)
But even with ordinary accounts held by people who innocently failed to file, “Say you have four of them you haven’t disclosed for six years,” Dueck said. “That’s $10,000 times four times six — $240,000.”
And, “It doesn’t matter if the undisclosed account is a $5,000 TFSA or a $5-million investment, you still have maybe 10 pages of filing that needs to be done.”
The Offshore Voluntary Disclosure Initiative could reduce the penalties by as much as 90 per cent, but it comes with three conditions. To be eligible, American citizens must establish that they lived outside the U.S. from 2003 to 2010, that they made a good-faith effort to comply with tax laws in the country or countries where they’ve been residing, and that they had less than $10,000 of U.S.-source income. People who meet those criteria may be able to apply for an extension to get all the paperwork done, Dueck said, but it is not automatically granted.
It’s hard to get a count of how many Americans live in B.C. or in Canada, but the consensus is that the number is big. Published estimates range from 600,000-plus to a million or more nationwide, and the American consulate in Vancouver estimates 90,000 in this region alone.
Dueck said that, based on his considerable experience, he believes about half of these don’t know they have to file annual returns, and as many as half of those who do file don’t know they also have to disclose their bank accounts and holdings.
Even more chilling, he said, Canadian-born children of American citizens may not realize they may automatically get U.S. citizenship without ever making any effort to apply for or acknowledge it. So some may be at risk of penalties without even realizing they’re dual citizens.
Several Americans who have suddenly realized they are not in compliance declined to be interviewed for this story. But David Perrin, an American citizen who teaches chemistry at the University of B.C. and who has had professional help filing to the IRS every year since he arrived in Canada in 2000, said the filing can be complicated.
“And the more complicated your finances get, the more onerous the filing gets.”
The Canadian tax on most job-related income is higher in Canada than in the U.S., so there’s generally no money owing to the IRS on wages or salary. But certain investment income is treated differently in each country, and there are other cases — lottery winnings, or capital gains on the sales of a home — where the U.S. collects tax but Canada does not.
“The same thing can happen with end-of-life issues, or winding down investments for retirement, and that sort of thing,” he said.
In past, the IRS has had no reliable way to track down most American citizens living in Canada, but that seems likely to soon change.
The U.S. Foreign Account Tax Compliance Act, which comes into effect in 2013, will require non-U.S. financial institutions to tell the IRS about any clients who are American citizens.
Dueck said the IRS has the clout to pressure Canadian institutions that do business on both sides of the border into doing this. So the only way for Americans living in Canada to avoid being identified would be to have no dealings with any financial institution, or to commit perjury — an option he emphatically advises against — when their bank asks about their citizenship.
The IRS did not comply with The Sun’s request for an interview, and it did not send, as its spokesman promised, background information on the issue. But some fairly detailed information is available on the IRS website at http://tinyurl.com/ovdiinfo

Read more here: The Windsor Star


The following from the IRS
Depending on a taxpayer’s particular facts and circumstances, the following penalties could apply:

• A penalty for failing to file the Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts, commonly known as an “FBAR”). United States citizens, residents and certain other persons must annually report their direct or indirect financial interest in, or signature authority (or other authority that is comparable to signature authority) over, a financial account that is maintained with a financial institution located in a foreign country if, for any calendar year, the aggregate value of all foreign accounts exceeded $10,000 at any time during the year. Generally, the civil penalty for willfully failing to file an FBAR can be as high as the greater of $100,000 or 50 percent of the total balance of the foreign account per violation. See 31 U.S.C. § 5321(a)(5). Non-willful violations that the IRS determines were not due to reasonable cause are subject to a $10,000 penalty per violation.
  
• A penalty for failing to file Form 3520, Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Taxpayers must also report various transactions involving foreign trusts, including creation of a foreign trust by a United States person, transfers of property from a United States person to a foreign trust and receipt of distributions from foreign trusts under IRC § 6048.This return also reports the receipt of gifts from foreign entities under section 6039F.The penalty for failing to file each one of these information returns, or for filing an incomplete return, is 35 percent of the gross reportable amount, except for returns reporting gifts, where the penalty is five percent of the gift per month, up to a maximum penalty of 25 percent of the gift.
  
• A penalty for failing to file Form 3520-A, Information Return of Foreign Trust With a U.S. Owner. Taxpayers must also report ownership interests in foreign trusts, by United States persons with various interests in and powers over those trusts under IRC § 6048(b).The penalty for failing to file each one of these information returns or for filing an incomplete return, is five percent of the gross value of trust assets determined to be owned by the United States person.
  
• A penalty for failing to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. Certain United States persons who are officers, directors or shareholders in certain foreign corporations (including International Business Corporations) are required to report information under IRC §§ 6035, 6038 and 6046.The penalty for failing to file each one of these information returns is $10,000, with an additional $10,000 added for each month the failure continues beginning 90 days after the taxpayer is notified of the delinquency, up to a maximum of $50,000 per return.
  
• A penalty for failing to file Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business. Taxpayers may be required to report transactions between a 25 percent foreign-owned domestic corporation or a foreign corporation engaged in a trade or business in the United States and a related party as required by IRC §§ 6038A and 6038C. The penalty for failing to file each one of these information returns, or to keep certain records regarding reportable transactions, is $10,000, with an additional $10,000 added for each month the failure continues beginning 90 days after the taxpayer is notified of the delinquency.
  
• A penalty for failing to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation. Taxpayers are required to report transfers of property to foreign corporations and other information under IRC § 6038B. The penalty for failing to file each one of these information returns is ten percent of the value of the property transferred, up to a maximum of $100,000 per return, with no limit if the failure to report the transfer was intentional.
  
• A penalty for failing to file Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships. United States persons with certain interests in foreign partnerships use this form to report interests in and transactions of the foreign partnerships, transfers of property to the foreign partnerships, and acquisitions, dispositions and changes in foreign partnership interests under IRC §§ 6038, 6038B, and 6046A. Penalties include $10,000 for failure to file each return, with an additional $10,000 added for each month the failure continues beginning 90 days after the taxpayer is notified of the delinquency, up to a maximum of $50,000 per return, and ten percent of the value of any transferred property that is not reported, subject to a $100,000 limit.
  
• Fraud penalties imposed under IRC §§ 6651(f) or 6663. Where an underpayment of tax, or a failure to file a tax return, is due to fraud, the taxpayer is liable for penalties that, although calculated differently, essentially amount to 75 percent of the unpaid tax.
  
• A penalty for failing to file a tax return imposed under IRC § 6651(a)(1). Generally, taxpayers are required to file income tax returns. If a taxpayer fails to do so, a penalty of 5 percent of the balance due, plus an additional 5 percent for each month or fraction thereof during which the failure continues may be imposed. The penalty shall not exceed 25 percent.
  
• A penalty for failing to pay the amount of tax shown on the return under IRC § 6651(a)(2). If a taxpayer fails to pay the amount of tax shown on the return, he or she may be liable for a penalty of .5 percent of the amount of tax shown on the return, plus an additional .5 percent for each additional month or fraction thereof that the amount remains unpaid, not exceeding 25 percent.
  
• An accuracy-related penalty on underpayments imposed under IRC § 6662. Depending upon which component of the accuracy-related penalty is applicable, a taxpayer may be liable for a 20 percent or 40 percent penalty.