In an article by FoxNews the IRS continues to target wealthy taxpayers who they believe are hiding income in offshore accounts.
http://www.foxnews.com/politics/2010/04/20/irs-targets-taxpayers-hiding-income-offshore-accounts/
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In a recent article IRS announces that hundreds of agents have been hired to hunt offshore tax evaders. The IRS is focusing on a web of business entities controlled by a high wealth individual.
Under an IRS voluntary Ddsclosure program that allows U.S. taxpayers to come clean about secret foreign bank accounts and avoid possible prosecution, over 14,700 have now admitted to hiding assets overseas, the IRS and Justice Department announced today.
Read more: Over 14,700 American Admit Foreign Bank Accounts to IRS-ABC News
UBS, the embattled Swiss bank that is being forced to divulge the names of about 4,500 account holders to the IRS, may have inadvertently tipped its hand on their identities by sending them registered letters through the U.S. Postal Service.
More Articles...
- IRS - Report of Foreign Bank and Financial Accounts (FBAR)
- Wealthy tax cheats caught in government crosshairs
- IRS crackdown brings tax-evasion secrets to light
- Government Conceals Evidence to Win Cases
- IRS Extends Deadline for Disclosing Hidden Offshore Accounts
- Taxpayers with Swiss Bank Accounts Beware
- Congress looking at counterproductive practices by the IRS
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