The Internal Revenue Service?
why do they have an offshore bank account
- 1 decade agoFavorite Answer
BECAUSE THEIR A FOREIGN CORPORATION.
THE IRS HAS NOTHING TO DO WITH THE U.S. GOV.
- Anonymous1 decade ago
If the IRS has foreign bank accounts it means it needs to have them in order to perform its functions. There are many Americans and many American corporations operating in foreign countries. They have to pay taxes to the IRS, and it is more practical to pay those taxes in the countries in which they work. So it is convenient for the IRS to have accounts in foreign countries. There are other reasons as well. The US has reciprocal agreements to exchange tax information with other countries, and it may be necessary for the IRS to have foreign offices, which in turn may need foreign bank accounts.
- jdkilpLv 71 decade ago