Though the IRS tries to keep their investigation into offshore financial accounts held by US taxpayers confidential, it is known that they are investigating bank accounts and other financial accounts owned by US taxpayers, Citizens and Permanent Residents in the following countries:
1. Switzerland
2. Liechtenstein
3. Israel
4. India
5. Singapore
6. Hong Kong
2. Liechtenstein
3. Israel
4. India
5. Singapore
6. Hong Kong
The risk of criminal and/or substantial civil penalties grows greater as the US Internal Revenue Service (IRS) and Department of Justice (DoJ) complete more bank-investigations and as foreign banks continue to co-operate with US government officials.
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