Skip to Main Content

Tax Notes Quotes Mark Matthews on Panama Papers

April 5, 2016, Tax Notes

In an interview with Tax NotesMark E. Matthews discusses whether or not the "Panama Papers," which exposed the undisclosed bank accounts of the world's elite, will have a significant effect on the U.S. tax authorities' continued enforcement of individuals who conceal income and the banks who assist them.  Mr. Matthews works with thousands of individual clients and several bank clients to help them come into compliance with U.S. enforcement actions.  For the full article, please visit Tax Notes' website (subscription required).

Excerpt taken from the article "Panama Papers Expose Undisclosed Bank Accounts of World's Elite" by William Hoke and Stephanie Soong Johnston for Tax Notes.

Mark Matthews of Caplin & Drysdale in Washington said he doesn't expect the reaction to the Panama Papers to result in any significant changes on the part of the U.S. "It is just another in a growing list of disclosures -- both authorized and not -- that continue to serve as a warning to taxpayers that attempting to conceal assets and income remains an extremely risky activity," Matthews said. "Hundreds of our clients in retrospect wish they had simply paid taxes rather than deal with the consequences of concealing income."

Matthews said that while the notion that there are any safe places to hide money is a thing of the past, he doubts that the disclosures will cause Congress to take any action to improve the laws concerning beneficial ownership of accounts. "The U.S. has been lagging behind most other financially sophisticated countries for decades in that regard," Matthews said.


About Caplin & Drysdale
Celebrating our 55th Anniversary in 2019, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022


This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
©2021 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practice Area(s)