Mark Matthews Talks to Wall Street Journal on U.S. Taxpayers With Undisclosed Offshore Accounts
On September 28, the Internal Revenue Service will end its program allowing U.S. taxpayers with undisclosed offshore accounts to come into compliance without penalties. . . . “Before 2008, an American citizen could often walk into a Swiss bank, deposit millions of dollars, and walk out confident that the funds were safe and hidden from Uncle Sam,” says Mark Matthews, a lawyer with Caplin & Drysdale who formerly headed the IRS’s criminal division. Now, he says ”Americans hiding money abroad have to go to small islands with sketchy advisers and less reliable financial systems.”
For the full article, please visit The Wall Street Journal’s website.
Excerpt taken from the article “The IRS Is Still Coming for You, Offshore Tax Cheats” by Laura Saunders for The Wall Street Journal.