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US Authorities Expect To Add Thousands To Offshore Tax Probes
4 May 2010
The US government plans to investigate up to 7,000 more cases of wealthy individuals evading tax via offshore accounts. Kevin Downing, a senior tax lawyer with the US Department of Justice speaking in Singapore, said he expected between 4,000 to 7,000 cases to be brought to the IRS in addition to the UBS case. Downing also warned those attempting to smuggle cash that that money can be traced. The Justice team are also visiting Hong Kong, Beijing and Shanghai.