New IRS Team Will Target Wealthy Taxpayers
RENEE MONTAGNE, host:
NPR's business news starts with a new crackdown on wealthy taxpayers.
(Soundbite of music)
MONTAGNE: The Internal Revenue Service has set up a special team that will focus on wealthy Americans and the complex arrangements set up to hide their wealth. IRS Commissioner Doug Shulman spoke yesterday about the new unit. He said it was set up a few months ago as part of a broader effort to fight tax evasion by wealthy Americans who moved their money abroad.
European banks have come under scrutiny recently, and so the new IRS team will focus on funds flowing from Europe and into Asia.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.