IRS will step up its efforts to find Americans utilizing tax haven banks. Since September 11 the U. S. Financial Crimes Enforcement Network has developed a coordinated program to find money laundering, foreign banking activity, and tax evasion. In most white collar crime cases the Justice Department offers plea bargains to individuals like Birkenfeld in return for cooperation in charging others involved in illegal activity. Therefore with increased resources being allocated to seeking out foreign bank activities by Americans we can anticipate will the first of many bankers who cooperate to reduce their potential jail time.
IRS National Taxpayer Advocate Issues Scathing Report on the Folly of Cutting the IRS Budget.
Nina Olson, the IRS National Taxpayer Advocate, recently released her 2014 Annual Report to Congress. It is clear from that report that many in Congress are hell bent to destroy the Internal Revenue Service. By dramatically cutting the IRS budget, Congress is systematically destroying what was once the most efficient tax agency in the world.
The National Taxpayer Advocate’s conclusions are stark and disappointing for the 82% of Americans who fully comply with our tax laws. On the other hand, Congress has created great opportunities for the 18% of the American public who fail to fully comply with our tax laws.