Chicago tax lawyer Robert E. McKenzie worries those with still secret offshore accounts may be less likely to disclose because they figure that if they’re found out and prosecuted, they’ll avoid jail as Warner has. But McKenzie tells prospective clients the same thing he wrote recently on Forbes: “Many other less lucky offshore depositors have been sentenced to prison by other judges. One distinguishing factor for Warner was he was a billionaire whereas those sent to prison were merely millionaires.”
However, some tax law experts said it is possible to reach some rough financial estimations. Robert McKenzie, a partner at Arnstein & Lehr in Chicago, estimated that the low range of income Romney reported for 2010 indicates a likely breakdown of $4.8 million taxed at the 15% rate and just over $5 million taxed at the normal, higher rate.