Lie Down With Dogs . . . And you'll end up with some mighty hefty fees.
By Joan Szabo •
Opinions expressed by Entrepreneur contributors are their own.
Think the idea of an offshore tax-shelter deal is intriguing?Think again. The IRS is cracking down on tax-evasion operations itconsiders illegal, putting promoters out of business and penalizingpeople lured in by their schemes.
The service is trying to do a better job collecting the hundredsof millions of dollars in revenue it loses each year due to suchillegal operations. "The IRS is targeting small to midsizedinvestors and business owners because it realizes that manyindividuals are trying to evade taxes [this way]," says PaulGada, a tax analyst with CCH Business Owners Toolkit, a division ofRiverwoods, Illinois-based tax and business law informationprovider CCH Inc.
Continue reading this article — and all of our other premium content with Entrepreneur+
Join the internet’s leading entrepreneur community! With your subscription you’ll get:
- Access to all of our premium content and an ad-free experience
- A complimentary subscription to Entrepreneur Magazine
- Four free e-books a year and 20% off everything from our bookstore
- Exclusive events with business celebrities and successful entrepreneurs