Sen. Wyden Investigation Uncovers Major Loophole in Offshore Account Reporting
August 25, 2022
August 25, 2022
WASHINGTON, Aug. 25 -- Sen. Ron Wyden, D-Oregon, chairman of the Senate Finance Committee, issued the following news release on Aug. 24, 2022:
Senate Finance Committee Chair Ron Wyden, D-Ore., today released the findings of a year-long investigation into the largest alleged individual tax evasion scheme in U.S. history. The investigation uncovered the "shell bank" loophole in the Foreign Account Tax Compliance Act (FATCA), a loophole that allows banks offshore to accept fu . . .
Senate Finance Committee Chair Ron Wyden, D-Ore., today released the findings of a year-long investigation into the largest alleged individual tax evasion scheme in U.S. history. The investigation uncovered the "shell bank" loophole in the Foreign Account Tax Compliance Act (FATCA), a loophole that allows banks offshore to accept fu . . .