For Subscribers

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+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Career

Thinking of a Career Change? Here Are 4 Steps You Can Take To Get There.

Author Joanne Lipman on what experience and science tell us about successful job pivots.

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

I Live on a Cruise Ship for Half of the Year. Look Inside My 336-Square-Foot Cabin with Wraparound Balcony.

I live on a cruise ship with my husband, who works on it, for six months out of the year. Life at "home" can be tight. Here's what it's really like living on a cruise ship.

Culture

50 Work-From-Home Jobs that Pay As Much or More than Average Salary

If you're tired of driving to an office and would love to work at home, there are plenty of high-quality full-time work-from-home jobs for you.

Money & Finance

How to Identify a Good Investment (Even During Economic Uncertainty)

By knowing precisely what a good investment looks like, you'll be able to make wise decisions quickly, efficiently and confidently, no matter what else is happening in the world.