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02.19.20 | Blog Posts

IRS Operational Alliance with Foreign Authorities Bodes Ill for Offshore Tax Evaders

The Insider: White Collar Defense and Securities Enforcement

For more than a decade the Internal Revenue Service has devoted substantial resources to pursuing individuals who use offshore vehicles to cheat on their U.S. tax obligations, as well as banks and professionals that facilitate their misconduct. As the IRS has struggled to tackle the challenges presented by foreign bank secrecy, the introduction of virtual currencies and the increasingly global nature of the economy have complicated its enforcement efforts. [...]

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