The Internal Revenue Service said it is beginning enforcement actions against more than 100 U.S. taxpayers who have been sheltering their funds from taxes by depositing them in secret bank accounts in the tax haven of Liechtenstein.
The U.S., along with the national tax administrations of Australia, Canada, France, Italy, New Zealand, Sweden and the United Kingdom are working together as member countries of the Organization for Economic Cooperation and Development's Forum on Tax Administration following recent revelations that Liechtenstein bank accounts were being used for tax avoidance (see Germany to Share Tax Evasion Information).
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access