The Ability of the US Government and the IRS to Track the Movement of Money Has Changed the Offshore Investment Game Forever

December 10, 2015

This is an historic time for US taxpayers. The US Justice Department has quite effectively placed the world on notice that if you help to hide the money or assets of US taxpayers, you are guilty of criminal tax evasion as well, and we will pursue you through international courts. They have already collected hundreds of millions of dollars from Credit Suisse and other Swiss institutions as part of a negotiated criminal settlement. The rest of the world has fallen in line. As of July 1, 2014 the IRS has received information about the accounts, balances and assets of US taxpayers (by social security number or federal ID) from banks and investment houses in Switzerland, the Cayman Islands and around the world. The IRS has ramped up the ante of this high-stakes poker game. We are no longer playing with money, the stakes now include the very real and likely exposure to criminal tax evasion and jail time. They will take your money, seize your assets and without pity or remorse send you to prison.

This used to be an enjoyable game for some. But the price today is too high, and the influence and reach of the US government and the IRS has become quite powerful. The balance of power has shifted. If you have under reported income or foreign accounts, or attempted to hide income or assets abroad it is time to seriously reconsider your position. At the very least you should discuss things with a seasoned and expert San Diego tax attorney. I provide my clients the ironclad protections of attorney-client privilege so that we can discuss all of your financial information openly without fear of having that information compelled by the IRS through subpoena. I invite you to call us at 866-631-3470 for a free consultation. It’s been a good ride. It is time to re-evaluate, and understand the true risks and available options.

 

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