reports that U.S. taxpayers who entered into an IRS program that made it easier to disclose their hidden offshore bank accounts may have thought they put their legal troubles behind them.
In Jail For Not Telling All!
We’re “taking all of that data and scrubbing it for leads,” Nanette Davis, a trial attorney in the Justice Department’s tax division, said at the New York University Tax Controversy Forum last week.
she said. With some taxpayers,
said Davis, who is overseeing the review.
It’s been clear to us as tax advisers that the Justice Department might prosecute people who lied in their streamlined declarations.
IRS trial attorney John C. McDougal suggested at the conference that the review of the streamlined submissions isn’t as dire as Davis made it sound because they’re being looked at in the same way as other tax returns. The IRS has begun formal examinations in some of the cases, he said.
Read more at: Tax Times blog