For individuals, Obama will propose shifting the burden of proof when the IRS believes money is being hidden offshore. In cases where individuals bank with financial institutions that haven’t agreed to report certain account information to the IRS, the individual will have to prove he or she doesn’t own the account, rather than requiring the IRS to prove ownership.
The change is projected to generate about $9 billion in new revenue between 2011 and 2019, and Obama believes it will yield substantially more, the administration official said.
Toughened Enforcement
Geithner said that in addition to the tax law changes, the Internal Revenue Service is “making an unprecedented effort” to strengthen enforcement. The president’s budget includes money to hire 800 new IRS employees.
artikel Bloomberg
