TaxAdministrationIRS seeks accountants in fight against tax evasion

IRS seeks accountants in fight against tax evasion

USA’s IRS is seeking help from the world’s biggest accountants to widen its campaign against tax evaders

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

US ramps up tax purge beyond UBS

Read
The Times story

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

1m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2m Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

2m Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

3m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

4m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

4m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

2y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

2y Fraser Simpson, Reporter