Big Brother Barack: Uncle Sam Wants YOUR MONEY

Actually, Uncle Sam NEEDS your money, because Uncle Sam is bankrupt. And bankrupt people, companies and countries do desperate things… like taking money that isn’t theirs.

A new Internal Revenue Service unit set up to catch rich tax cheats hiding their wealth in complex business entities is rapidly taking shape with the hiring of hundreds of employees.

The IRS high wealth unit, part of a broader effort to combat international tax evasion, is focusing on “the entire web of business entities controlled by a high wealth individual,” IRS Commissioner Doug Shulman told a tax conference this week.

Another IRS official told Reuters “hundreds” of people have already been hired to staff the new unit, including some from within the agency.

“We have drawn top talent within the IRS that have expertise involving wealthy individuals as well as examination of their related entities,” said Mae Lew, an IRS special counsel.

Tax authorities in Japan, Germany and the UK have also created similar units.

The U.S. House of Representatives on Thursday approved a $387 million boost for the IRS… in part to fund the high-wealth unit…

The IRS is also opening new criminal offices in Beijing, Panama City and Sydney…

via Exclusive: IRS hires hundreds for new wealth unit | Reuters.

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