IRS Investigates Stanford Clients With Offshore Accounts

The hunt for offshore account holders continues. The IRS is now trying to obtain the names of individuals who held offshore accounts with indicted financier and former billionaire Allen Stanford, according to a story in the New York Post. The IRS believes many of these individuals used the offshore accounts to conceal income, says the story.

The IRS has been focusing more closely on offshore accounts of late, including its investigation of U.S. clients of UBS who held secret Swiss accounts.