For those in the crosshairs of regulators
Recent news reports make it clear. Revenue regulators are focusing their prosecution on high-net worth individuals and business owners.
"Editorial: Crackdown on offshore tax cheaters is paying dividends"
- Chicago Tribune (Oct. 1, 2013)
According to the op-ed, the U.S. Senate estimates that "accounts used to evade taxes cost the Treasury at least $100 billion a year" and that "programs enabling Americans to declare their offshore holdings have attracted nearly 40,000 participants and generated $5.5 billion in back taxes."
"How the IRS Thinks About Small Business Tax Scofflaws"
- Businessweek (Sept. 26, 2013)