Whether dodging taxes or legal peril, wealthy Americans often succeed in concealing assets from the government by hiding their money in offshore bank accounts.
Research from the IRS and a group of economists last year found that the top 1% of earners in the U.S. neglect to report 20% of their income — and that random audits almost never detect offshore accounts.
“The level of sneakiness around very wealthy American clients hiding their money abroad is kind of staggering,” best-selling…
Source link
