The Wall Street Journal Quotes Scott Michel: As U.S. Expats Balk at Tax Law, Asia Sees a Shift
Scott D. Michel is quoted by The Wall Street Journal concerning the U.S. government's crackdown on global tax evaders which is prompting some Americans in Asia to rethink their citizenship due, in part, to an increasing burden of paperwork required by U.S. tax law. For more on the story, please visit WSJ's website. Additional coverage may be found here: U.S. Tax Hunt Has Ripples in Asia.
Excerpt taken from the article.
Scott Michel, a tax and estate lawyer based in Washington, D.C., with Caplin & Drysdale, said he has filed taxes of as much as $60 million on behalf of one family. "Some clients, many of the wealthier ones, decide to bite the bullet," he said. "That's a lot of money to pay for peace of mind, but people do it."