A Senate report estimates that tax cheating now equals about 7 cents out of each dollar paid by honest taxpayers, or as much as $70 billion annually.

The 400-page report, entitled "Tax Haven Abuses: The Enablers, The Tools & Secrecy," was released in anticipation of a Tuesday hearing on the subject before the Permanent Subcommittee on Investigations. The report, the result of a yearlong investigation into abusive tax shelters, details several methods allegedly used by wealthy individuals to avoid paying taxes.

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