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<h1><span style="color:#6b0f0f;"><em><strong>&#8216;Over 200 Americans have been named in Mossack Fonseca papers</strong> &#8230;I</em></span><strong><span style="color:#6b0f0f;"><em>nternal Revenue Service advising offshore account holders to get in touch&#8217;</em></span><br />
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<li class=""><span style="color:#6b0f0f;"><strong>Investigation gaining momentum following release of documents on April 3</strong></span></li>
<li class=""><span style="color:#6b0f0f;"><strong>Comes after experts claimed Americans have &#8216;no need&#8217; to go to Panama</strong></span></li>
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<h2><span style="color:#808080;"><strong>&#8216;&#8230;Why the soft landing. Any sacred cows? Surprised at the IRS stance considering the vast sums involved here, in contrast to the everyday tax dodges that are &#8216;routinely&#8217; investigated and penalized&#8217;</strong></span></h2>
<p>Americans who face being named in the Panama Papers have been told to come clean before any illegal activity is discovered by officials.<br />
More than 200 people with U.S. addresses have so far been identified by authorities combing the Mossack Fonseca documents, which were leaked earlier this month.<br />
The Internal Revenue Service (IRS) has now advised anyone using offshore accounts to contact them as the investigation gains momentum.<br />
In a statement given to NBC News, the service said: &#8216;People hiding assets offshore should recognize the continued changes and progress in the international tax arena.<br />
&#8216;More than ever, their best option remains to come forward voluntarily and participate in the IRS Offshore Voluntary Disclosure Program.&#8217;<br />
It comes after experts revealed the reason for the low number of Americans involved &#8211; in comparison with other countries &#8211; might be because shell companies are being formed under authorities&#8217; noses in Wyoming, Delaware or Nevada. This means residents do not need to go to Panama.</p>
<h6><strong><img class="alignnone size-full wp-image-12123" src="https://konniemoments.com/wp-content/uploads/2016/04/122e2dab000005dc-3524255-syrian_president_bashar_al_assad_and_his_wife_asma_walk_through_-a-32_14598602859721.jpg" alt="122e2dab000005dc-3524255-syrian_president_bashar_al_assad_and_his_wife_asma_walk_through_-a-32_14598602859721" width="634" height="477" />Caughtup in the Panama tax shelter scandal: Syrian president Bashar al-Assad and his wife Asma walk through Paris on a visit in December 2010</strong></h6>
<p>Shima Baradaran Baughman, a professor at the University of Utah, told Fusion that Americans &#8216;have no need to go to Panama to form a shell company to use for illicit activities&#8217;.<br />
She added: &#8216;It [the leak] should make Americans look internally to see what kinds of corporate illegalities we are allowing within our own borders.&#8217;<br />
James Henry, a economist, agreed, adding that the U.S. has an &#8216;onshore haven industry.. that is as secretive as anywhere&#8217;.</p>
<h6><strong><img class="alignnone size-full wp-image-12073" src="https://konniemoments.com/wp-content/uploads/2016/04/331e3be100000578-3546086-image-a-2_1460991788683.jpg" alt="331e3be100000578-3546086-image-a-2_1460991788683" width="634" height="420" /></strong><br />
<strong>More than 200 residents have so far been named in the Mossack Fonseca documents, which were leaked earlier this month. Above, an officer keeps an eye out during last week&#8217;s raid</strong></h6>
<p>His comments came as other experts confirmed it would take months for journalists to trawl through the 11.5million documents, meaning it will be a while before the number of Americans involved can be confirmed.<br />
Jack Blum, a Washington lawyer and offshore activity expert, told Fusion is was going to &#8216;take some time&#8217; due to the enormity of the database.<br />
He added that he expected more Americans to show up when stock fraud and manipulations are examined, as well as hedge fund operations.</p>
<h6><strong><img class="alignnone size-full wp-image-4653" src="https://konniemoments.com/wp-content/uploads/2016/04/32fef39f00000578-3531269-the_prime_minister_admitted_he_could_have_handled_questions_abou-a-116_1460201368535.jpg" alt="32fef39f00000578-3531269-the_prime_minister_admitted_he_could_have_handled_questions_abou-a-116_1460201368535" width="470" height="679" /></strong><br />
<strong>British PM David Cameron under fire for using the Panama tax shelters</strong></h6>
<h6><img class="alignnone size-full wp-image-1418" src="https://konniemoments.com/wp-content/uploads/2016/04/32de4ac600000578-3524568-iceland_s_prime_minister_sigmundur_david_gunnlaugsson_speaking_a-a-13_1459864214453.jpg" alt="32de4ac600000578-3524568-iceland_s_prime_minister_sigmundur_david_gunnlaugsson_speaking_a-a-13_1459864214453" width="634" height="455" /><br />
Under fire: Iceland&#8217;s Prime Minister Sigmundur David Gunnlaugsson resigned amid a dispute over his family&#8217;s offshore tax affairs</h6>
<p>Other reports have suggested thousands of Americans could be involved.<br />
The leaked documents from one of Panama&#8217;s most secretive law firms emerged after hundreds of journalists from across the world spent months interpreting the data.<br />
Sigmunder David Gunlaugsson became the first victim of the leak as he sensationally resigned from his position as Prime Minister of Iceland.<br />
His resignation came after the documents appeared to show he and his wife set up a company in the British Virgin Islands to hide millions of pounds.<br />
Other people caught up in the leak include Egypt&#8217;s former president Hosni Mubarak, Libya&#8217;s former leader Colonel Gaddafi, Syria&#8217;s president Bashar al-Assad and Chinese president Xi Jinping, who are all alleged to have links to tax havens through families and associates.</p>
<h5><img class="alignnone size-full wp-image-12110" src="https://konniemoments.com/wp-content/uploads/2016/04/32fcd75d00000578-3531254-image-a-30_14601946117201.jpg" alt="32fcd75d00000578-3531254-image-a-30_14601946117201" width="620" height="264" /></h5>
<h6>El Salvador Attorney General led raid led by Armed police on the El Salvador offices of law firm at centre of Panama Papers scandal and seized 20 computers</h6>
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‘Panamagate’: Hundreds of Americans named in Panama Papers are told to own up before being caught by officials as investigation into offshore activity continues
