AS the law now stands, a U.S. citizen who has a substantial amount of cash that he wants to hide from the Internal Revenue Service has no real problem. He can take it out of the country, entirely legally, deposit it in a secret Swiss bank account, then arrange to have the bank return it as a foreign "loan"—and defy the IRS to say it is not. That is only one of the milder variants of a sophisticated array of illegal ploys that have been made increasingly easier in recent years by the proliferation...
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