January 14,2003

Grassley on Identifying Tax Evaders Using Offshore Accounts

M E M O R A N D U M

To: Reporters and Editors
Fr: Jill Gerber, 202/224-6522
Re: IRS offshore credit card initiative
Da: Tuesday, Jan. 14, 2003

Sen. Chuck Grassley, incoming chairman of the Committee on Finance, made the following
comment on the Internal Revenue Service’s announcement of a plan to identify those who use
offshore credit cards to hide income and evade U.S. taxes. The issue has been the subject of Finance Committee scrutiny.

“This is an opportunity for a fresh start that taxpayers would be smart to embrace. I’m also
pleased that while taxpayers will be getting a fresh start, the IRS plans on making it the end of the
line for crooked perpetrators.”