IRS teams with Australia, UK, to expose tax cheats

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Posted: Thursday, May 9, 2013 3:35 pm | Updated: 4:05 pm, Sat May 11, 2013.

WASHINGTON (AP) — The Internal Revenue Service says it is teaming with tax agencies in Australia and the United Kingdom to share information about potential tax cheats hiding money in tax havens around the world.

The IRS said Thursday that tax agencies in the three countries have acquired "a substantial amount of data" about potential tax cheats from many countries hiding assets in Singapore, the British Virgin Islands, the Cayman Islands and the Cook Islands. The agencies are offering to share the information with other countries.

The IRS said the data also identifies tax advisers who are helping potential tax cheats. The IRS declined to say how it obtained the information.

Acting IRS Commissioner Steven Miller says the program is part of a larger effort to rid the world of tax havens.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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