USA’s Internal Revenue Service (IRA) has booked a conference call for Tuesday, with accountants such as Ernst & Young and PricewaterhouseCoopers, to discuss ways their auditing departments can help clamp down on tax evasion by US citizens.
The US government believes tax evaders are costing the country hundreds of millions of dollars a year in lost revenues, The Times reports.
‘We are concerned generally by what we are seeing and hearing’ how some foreign banks are behaving when it comes to their customers’ payment of US taxes, an email said from Barry Shott, a deputy IRS commissioner in charge of international taxes, to the six big accountancy firms.
Next week’s conference call is also thought to include Deloitte & Touche, Grant Thornton, KPMG and BDO Seidman and will centre on how the auditors can help the US government to make its ongoing ‘Qualified Intermediary’ programme more effective which enables foreign banks operating in the US to release the names and details of customers in return for lenient treatment on their taxes.
Further reading:
Swiss govt concern over US tax evasion probe
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