Senator wants IRS to show what it’s done about tax fraud since Panama Papers reports

An influential Democratic senator has demanded answers from the IRS about what it has done since the Panama Papers were published last spring to combat tax fraud committed through anonymous shell companies.

Oregon’s Ron Wyden is the top Democrat on the Senate Finance Committee and could become its chairman if Democrats regain control of the chamber in November elections. He sent a three-page letter on Wednesday to Treasury Secretary Jacob Lew and IRS Commissioner John Koskinen, asking for data on required reporting about shell companies.

“It’s critical to determine whether our government has the right tools to discern legitimate businesses from criminal enterprises, and to identify what additional measures might be needed to fight financial crime,” Wyden said in his letter.

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