Offshore Tax Evasion Rounds Out IRS Annual “Dirty Dozen” for 2018

The Internal Revenue Service has issued a warning to taxpayers about avoiding taxes by hiding money or assets in unreported offshore accounts, a tax scam that remains on the annual “Dirty Dozen” for 2018. Offshore tax compliance has been a major focus for the IRS in recent years, and taxpayers should remain wary given the continuing focus on such schemes by both the IRS and the Justice Department. Compiled annually by the IRS, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter any time of the year, but many of these schemes peak during filing season as people prepare their tax returns or seek help from tax professionals. To help protect taxpayers, the IRS is highlighting each of these scams on twelve consecutive days to help raise awareness. The text of the IRS announcement follows: As the IRS intensified efforts on offshore issues in recent years, many taxpayers have voluntary disclosed their participation in these…

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