Tax Notes Quotes Carolyn Schenck on IRS and HMRC Whistleblower Collaboration

The IRS has announced that it has teamed up with HM Revenue & Customs’ new whistleblower scheme to combat global tax evasion and enforce U.K.-U.S. compliance.

. . .

Carolyn A. Schenck, a former IRS national fraud counsel now with Caplin & Drysdale, welcomed the announcement in a statement to Tax Notes. The collaboration “reflects the reality that effective enforcement increasingly requires cross-border intelligence sharing and coordinated action,” she said.

Schenck added that U.S. expatriates in the United Kingdom and vice versa should take note of the announcement, calling it “a reminder that unresolved offshore tax issues rarely become easier with time.”

To read the article in full, please visit Tax Notes’ website.