Wealthy Americans Targeted by U.S. in Panama Tax-Fraud Probe (1)

July 29, 2021, 5:14 PM

U.S. authorities obtained a court order allowing them to demand financial information from banks and couriers about wealthy Americans suspected of using a Panamanian law firm to evade taxes.

The Internal Revenue Service can now get information about electronic fund transfers and courier deliveries between the firm, Panama Offshore Legal Services, and its U.S. clients, the Justice Department said in a statement Thursday. The IRS seeks to identify clients who used the law firm to “create or control foreign assets and entities” to evade taxes, the department said.

“We continue our joint efforts with the IRS to investigate tax ...

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