Fifty Shades of Deterrence?: The 'Grey Area' of Dissuasion for Those Assisting Offshore Tax Evaders

150 Cayman Is J. (2015)

5 Pages Posted: 1 Mar 2015 Last revised: 26 Sep 2018

See all articles by Jack Manhire

Jack Manhire

Texas A&M University School of Innovation; Bush School of Government & Public Service

Date Written: February 28, 2015

Abstract

For individual taxpayers engaged in offshore tax evasion, the U.S. government has issued a clarion call of deterrence best summarized in the song made famous by Martha and the Vandellas: “Nowhere to run to; nowhere to hide.” Yet, the jury is still out — literally — for most bankers, attorneys, and advisors charged with assisting U.S. offshore tax evaders. It appears too early to tell if the same warning is as applicable to the bankers, attorneys, and financial/tax advisors charged with facilitating offshore tax evasion. This creates a potential “grey area” of deterrence for many who enable offshore tax evasion.

Keywords: taxation, offshore, tax, tax evasion, voluntary disclosure, FATCA, international tax, IRS, Department of Justice, tax law

JEL Classification: D81, F20, G28, H26, H24, H25, K23, K33, K34, K42

Suggested Citation

Manhire, Jack, Fifty Shades of Deterrence?: The 'Grey Area' of Dissuasion for Those Assisting Offshore Tax Evaders (February 28, 2015). 150 Cayman Is J. (2015), Available at SSRN: https://ssrn.com/abstract=2571676

Jack Manhire (Contact Author)

Texas A&M University School of Innovation

1249 TAMU
College Station, TX 77843-1249
United States

Bush School of Government & Public Service ( email )

4220 TAMU
College Station, TX 76845
United States

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