Stop Tax Haven Abuse Bill: Preventing Offshore Tax Evasion Another Sign IRS Enforcement is on the Rise

Last week, Sen. Carl Levin, chairman of the Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations, examined the recent deferred prosecution agreement between the Department of Justice and UBS AG Bank of Switzerland, as well as the DOJ’s ongoing attempts to force the bank to identify its U.S. customers with secret Swiss bank accounts.

Recently, a senior executive of a large Swiss bank was charged with conspiring with other executives, managers, private bankers and clients to defraud the United States by concealing $20 billion in assets from the IRS.

Levin reintroduced his “Stop Tax Haven Abuse Bill” to “fight back and end the abuses inflicted on us by those tax havens.” IRS Commissioner Douglas H. Shulman testified at the hearing and responded to Levin’s suggestions for putting pressure on taxpayers using Swiss banks’ secrecy to avoid paying U.S. tax.

Another sign of the times: IRS enforcement is of rise.

If you are in trouble with the IRS, our specialized staff of attorneys, CPAs, EAs and tax professionals can help. Visit the Tax Resolution Services web site  for a free tax relief consultation or call us at 866-477-7762.

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This entry was posted on Monday, March 9th, 2009 at 9:48 am and is filed under Tax news and tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Stop Tax Haven Abuse Bill: Preventing Offshore Tax Evasion Another Sign IRS Enforcement is on the Rise”

  1. IRS Announces Revised Voluntary Disclosure Terms for Taxpayers with Offshore Accounts | Tax Relief Tips from the Experts at Tax Resolution University Says:
    March 27th, 2009 at 3:08 pm

    [...] has received notice of such an investigation, it remains unclear as to whether those charged with offshore tax evasion and concealing back accounts in Switzerland may successfully participate in this [...]

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