Wednesday, September 21, 2011

U.S. Probes 8 Offshore Banks for Aiding Tax Evasion

Watcha gonna do, when they come for you?

Eight offshore banks are the subject of United States federal grand jury investigations examining whether they helped Americans evade taxes, reports Reuters.

Reuters goes on:
In a highly unusual action late on Monday, the U.S. Department of Justice disclosed the probes on a website page discussing its tax division's Offshore Compliance Initiative. It did not identify the eight banks by name, a move that would have been a felony under criminal procedure rules, and removed the reference on Tuesday.
Never, never attempt tax evasion, especially through offshore banks. I suspect the IRS has agents and/or informants at many of these banks. Hell, even when Nicholas Deak, the gold coin and foreign exchange dealer, was murdered in his downtown Wall Street office, along with his secretary, it turned out that the secretary's husband, curiously enough, was an IRS special agent.

There are plenty of loopholes in the tax laws that will never be eliminated. If you have the kind of money where you are considering offshore accounts, you are much better off hiring a shrewd tax accountant. You will probably have to call somewhere between 20 and 100 tax accountants, but when you find the one that can surf the tax laws legally, you will know.

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