4. Hiding Income Offshore
Numerous individuals have evaded taxes by hiding income in offshore banks, brokerage accounts or nominee entities, using debit cards, credit cards or wire transfers to access the funds. Others have also employed foreign trusts, employee-leasing schemes, private annuities or insurance plans for the same purpose. The IRS works closely with the Department of Justice to prosecute these cases.
The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.