Word: reaps
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Dates: during 1980-1989
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...REAP's main provisions changed the status of tax evasion from a misdemeanor to a felony, which now carries a jail sentence of up to five years and fines of $100,000 for those convicted under the new laws...
...Jackson and his crew say they will not be spending much time resting on their laurels. The state's amnesty program was part of a package deal which included strict new tax enforcement legislation--a single, 101-article bill called the Revenue Enforcement and Protection Act (REAP...
...going to be going out like gangbusters with even more vigorous enforcement," says Jackson, adding that as commissioner of revenue he is sanctioned by REAP to employ tax collection techniques "unprecedented in the nation...
...REAP gave the [revenue] department some important new powers," Durning explains, including the following; the power to suspend private state-issued licenses of individuals who fail to pay taxes; the right to demand that harbor masters in Massachusetts submit yearly lists of locally moored boats and yachts; and the freedom to employ private bill collectors in collecting state taxes. And, During says, the department is also making "more intelligent use" of the powers it held previously...
...supermarkets such as Sears and Shearson/American Express are offering a wide variety of banking services, and traditional firms, ranging in size from San Francisco's BankAmerica (assets: $124 billion) to General Bancshares of St. Louis ($1.8 billion), are roaming far outside their old territory. Consumers are likely to reap better services and lower prices from the resulting competition...