IRS to go after more banks harboring offshore tax cheats
Taken from Reuters USA on 4-28-09:
“We are developing John Doe summonses on other banks,” Daniel Reeves, an agent with the IRS’ Offshore Compliance division, told Reuters on the sidelines of a conference in Miami on offshore finance.
He was referring to the kind of subpoena filed by the IRS against UBS seeking to force the bank to turn over the names of clients suspected of evading U.S. taxes.
Reeves declined to say which, or how many, other banks could face cases filed by the IRS, but he confirmed the entities being investigated were foreign-based like UBS.
“We have identified other offshore banks that are engaged in similar activities,” he earlier told the conference.
Contact us for a conference regarding the Amnesty program for unreported, offshore investment accounts. Amnesty runs out 10-15-09.
That was a thought-provoking post if ever I have seen one. I can’t say that I completely agree with you about the IRS Tax Penalty though, could you clarify your thoughts on that?
I added that amnesty runs out 10-15-09