Thursday, March 22, 2012

IRS FORMING ‘SWAT TEAM’ TO NAB TAX EVADERS

They should have a bonanza if they crack down corporate offshore tax shelters in Puerto Rico.
MJ
THEBLAZE
by: Erica Ritz
Published Wednesday, March 21, 2012

The IRS is assembling what Eric Solomon, a director at Ernst & Young, calls a “SWAT team” to crack down on tax evaders.
IRS Forming SWAT Team to get Tax EvadersWith a staff of 90,000 people and a budget of $11.8 billion (after a 2.5% cut for 2012), the IRS is particularly looking to crack down on “transfer pricing,” which occurs when companies shift their profits from country to country in order to pay the lowest tax rate.