I wonder who will we find on the list
Oct 15, 2009
7,500 tax evaders come cleanWASHINGTON - SOME 7,500 wealthy Americans turned over information about hidden overseas assets, including some valued at more than US$100 million (S$139 million), ahead of a tax amnesty programme's Thursday deadline, the top US tax collector said.
Doug Shulman, commissioner of the Internal Revenue Service, said his agency would expand its crackdown on offshore tax evasion and will open new criminal investigation offices in Beijing, Panama and Sydney, Australia. The amnesty plan revealed accounts in 70 countries.
'The IRS has new momentum in this entire area and in the coming months our efforts will only intensify,' Mr Shulman said.
Roughly 7,500 Americans have taken part in the amnesty programme, he said, more than double the participation reported a few weeks ago. The amnesty deadline was extended once and will not be extended again.
In the past, without the special program, about 100 people came forward annually.
Under the amnesty programme that began in September, tax cheats can declare offshore accounts and income, pay reduced fines and, in general, get immunity from criminal prosecution. -- REUTERS