Connect with us

Economy

IRS recruiting video shows exactly why we do not want 87,000 more agents

Published

on

4FB5C091 7AE6 44B1 ACEA 14DB6379DA27

The Biden administration is beefing up the IRS in order to better go after taxpayers and whomever the government deems worthy of getting harassed. A scary indication of what’s to come can be seen during the mock criminal trial conducted in Utah.

The IRS Adrian Project did a mock “criminal investigation” at Dixie State University in George, Utah. “Accounting and Criminal Justice Students learned what it would be like to be an IRS Special Agent or Criminal Investigator during a mock investigation” the video description reads.

”The half day experience opened their eyes on how to find tax fraud and just what the IRS can do to find and prosecute criminal financial evasion. This was the second time the IRS Adrian Project has taken place in Utah in hopes of recruiting more agents into the field.”

“In case you thought the IRS needed 87,000 more agents to help you with your tax returns and audit billionaires, watch this: Highlights from the IRS Adrian recruiting project” tweeted Republican Representative Thomas Massie.

 

You may like

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Swiss Bank Admits to $5.6 Billion Tax Evasion Scheme, Settles for $120 Million

Published

on

16687016624 46261174d3 b

Banque Pictet, the private banking arm of the Pictet Group based in Switzerland, has admitted to conspiring with U.S. taxpayers to hide billions of dollars from the Internal Revenue Service (IRS) in over 1,600 secret bank accounts. The Justice Department revealed on Monday that Banque Pictet has agreed to pay over $120 million in restitution to the U.S. Treasury as part of a settlement.

The bank’s involvement in the tax evasion scheme spanned from 2008 through 2014, during which it conspired with American taxpayer clients to conceal more than $5.6 billion of the approximately $20 billion in U.S. assets. This led to an evasion of around $50.6 million in U.S. taxes, according to prosecutors.

Of the $5.6 billion concealed, the funds were distributed across 1,637 accounts, implicating more than 40% of the total 3,736 private accounts owned by U.S. taxpayers held by the bank. Banque Pictet reportedly assisted its American clients in hiding their undeclared accounts through various means, including the formation and administration of offshore entities. Undeclared accounts were then maintained in the names of these entities on behalf of U.S. taxpayer clients.

Jim Lee, Chief of IRS Criminal Investigation, emphasized the importance of the case in sending a strong message to those attempting to hide assets and income offshore. Lee stated, “This case should provide a clear message to others who try to hide their assets and income offshore. Offshore tax evasion is a priority for IRS Criminal Investigation.”

The settlement underscores the ongoing efforts by U.S. authorities to combat tax evasion and sends a clear warning to financial institutions and individuals involved in such illicit activities. As regulatory scrutiny intensifies globally, financial institutions face increasing pressure to ensure compliance with international tax laws and prevent their involvement in tax evasion schemes.

You may like

Continue Reading

Trending