Dozens of audits involving tax preparers and promoters are underway
Simplified rules intended to better target aggressive offshore tax planning schemes
Audits at RBC DS highlight the importance for advisors to exercise caution when assisting clients with complex tax planning
CRA conducting audits involving advisors at the firm
Money sitting in undeclared offshore accounts is estimated to be in the trillions
Measures include bigger penalties
Agreement with the Netherlands will help authorities combat tax evasion
IRS reaches deal to access as to accounts that U.S. investors might have used to avoid taxes
Voluntary Disclosure Program nets more than $373 million in assessed additional taxes
Taxpayers engaged in tax schemes could face hefty penalties