US Government Continues Efforts Against Tax Evasion and Fraud
San Diego, CA (PRWEB) April 14, 2006
The U.S. Government is continuing vigorous efforts against taxpayers who participate in tax evasion and other forms of non-compliance with federal tax laws, according to the Department of Justice.
The Department says that the government has successfully prosecuted hundreds of tax cheats and promoters of tax schemes since 2001. They have alson sought out and obtained civil injunctions to stop the promotion of tax scams and false returns.
The efforts have been increased during the past year, according to the Department. Some notable successes has been the Tax Division bookings of some large corporations, such as KPMG and HVB.
In 2006, the Department has already racked up court victories against users of tax shelters such as Corporate Owned Life Insurance, contingent liability tax shelters and “lease stripping” shelters.
“The Department of Justice is committed to using all available law enforcement tools to recover tax revenue, punish tax offenders and to prevent future misconduct,” said Eileen J. O’Connor, Assistant Attorney General for the Tax Division.
“People who promote, facilitate or engage in plans of schemes to avoid reporting their income or another person’s income are risking penalties and criminal prosecution,” she warned.
Large corporation tax shelters and high-income individual tax evasion has cost the federal treasury an estimated $ 10 billion annually.
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