Last Call To Dodge The IRS’s Crusade Against ‘Offshore’ Accounts?
Agents at the IRS have been quietly rubbing their hands together in anticipation of July 1. That’s when a new law requiring foreign banks to report on offshore accounts held by American citizens goes into effect, enabling the IRS much more information it can use to track you down if you are a tax evader. If you have an offshore account — a Swiss bank account, say, or one in the Cayman Islands — the chances that the IRS will find out about it are going way, way up.
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