Wall Street Journal Interviews Scott Michel About IRS Enforcement in Asia
05.11.2011
Wall Street Journal
Excerpt taken from article.
In 2007, the U.S. Internal Revenue Service started cracking down on Americans hiding assets in Swiss bank accounts, and since then authorities have noted a trail of capital flowing from Europe into accounts in Hong Kong and elsewhere in Asia. Now, the IRS is bulking up its presence in Asia, and those who sought tax refuge in the region are coming under increased scrutiny.
What are the implications of the IRS's efforts in the region? The Wall Street Journal talked to Scott Michel, a partner at tax firm Caplin & Drysdale in Washington, which represents clients around the world for audits and investigations arising from the IRS and the Justice Department. Mr. Michel was recently in Hong Kong to give a speech on tax law. Read>>
In 2007, the U.S. Internal Revenue Service started cracking down on Americans hiding assets in Swiss bank accounts, and since then authorities have noted a trail of capital flowing from Europe into accounts in Hong Kong and elsewhere in Asia. Now, the IRS is bulking up its presence in Asia, and those who sought tax refuge in the region are coming under increased scrutiny.
What are the implications of the IRS's efforts in the region? The Wall Street Journal talked to Scott Michel, a partner at tax firm Caplin & Drysdale in Washington, which represents clients around the world for audits and investigations arising from the IRS and the Justice Department. Mr. Michel was recently in Hong Kong to give a speech on tax law. Read>>