The Internal Revenue Service plans to hold a conference call on July 8 with the six largest audit firms to convince them to do more to help track the use of secret foreign bank accounts for tax evasion.
Bloomberg News reported that IRS deputy commissioner Barry Shott wrote an e-mail to the firms in which he said the IRS was concerned about what it was "seeing and hearing" about the practices of some foreign banks. The IRS wants to discuss with the auditing firms the Qualified Intermediary program, which was launched in 2000 as a way for the IRS to keep tabs on U.S. taxpayer funds in foreign bank accounts.
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