The IRS has been aggressively cracking down on offshore investors who are not in compliance with tax rules requiring them to report their accounts and pay taxes on offshore income. The IRS has used a number of different tools, including compelling banks to turn over details about their accountholders in order for the banks to avoid criminal prosecution for facilitating tax evasion. 

The Paradise Papers were a massive leak of financial documents, with around 13.4 million confidential documents turned over to reporters. The Paradise Papers provided a glimpse into the world of offshore banking, similar to the insider look offered by previous leaks such as the Panama Papers.  Those who have offshore funds whose information was revealed by The Paradise Papers could find themselves facing an investigation by taxing authorities and should contact a Boston tax evasion attorney for help.

A Boston tax attorney can provide guidance to those who own Bitcoin or who have profited off Bitcoin and who have become concerned about IRS crackdowns on undeclared earnings from Bitcoin.  The IRS has become aggressive in recent years in pursuing an investigation into Bitcoin investors and other cryptocurrency investors who may not be declaring all of their profits, including going after coin exchanges to try to compel them to turn over their data.