Grassley on IRS Enforcement of Virgin Islands Tax Scams
M E M O R A N D U M
To: Reporters and Editors
Re: IRS enforcement of Virgin Islands scam
Da: Thursday, June 24, 2004
Sen. Chuck Grassley, chairman of the Committee on Finance, today made the followingcomment on the IRS enforcement of Virgin Islands tax avoidance scams.
“I’m glad to see action to go after this tax avoidance scam. The Finance Committee addressedthe matter of tax shelters and the Virgin Islands with expanded reporting and penalties in the JOBSbill. In addition, the Finance Committee hearing on charities earlier this week highlighted howwidespread this particular scam is becoming. This is the kind active enforcement I like to see fromthe IRS. It's hard to get the horse back in the barn after the barn door's been opened.”
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