Data and Code for "Taxing Hidden Wealth: The Consequences of U.S. Enforcement Initiatives on Evasive Foreign Accounts"

Principal Investigator(s): View help for Principal Investigator(s) Niels Johannesen, University of Copenhagen; Patrick Langetieg, Internal Revenue Service; Daniel Reck, London School of Economics; Max Risch, Princeton University; Joel Slemrod, University of Michigan

Version: View help for Version V1

Name	File Type	Size	Last Modified
AEJ_public_archive			11/26/2019 04:30:PM
README.txt	text/plain	9.1 KB	11/26/2019 11:29:AM

Project Citation:

Johannesen, Niels, Langetieg, Patrick, Reck, Daniel, Risch, Max, and Slemrod, Joel. Data and Code for “Taxing Hidden Wealth: The Consequences of U.S. Enforcement Initiatives on Evasive Foreign Accounts.” Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-07-06. https://doi.org/10.3886/E112222V1

Project Description

Summary: This deposit contains the data and code from "Taxing Hidden Wealth." This material has been cleared for public release by the Internal Revenue Service. See the readme file for further details.

Abstract:

In 2008, the IRS initiated efforts to curb the use of offshore accounts to evade taxes. This paper uses administrative microdata to examine the impact of enforcement efforts on taxpayers’ reporting of offshore accounts and income. We find that enforcement caused approximately 50,000 individuals to disclose offshore accounts with a combined value of about $100 billion. Most disclosures happened outside offshore voluntary disclosure programs, by individuals who never admitted prior noncompliance. Disclosed accounts were concentrated in countries often characterized as tax havens. Enforcement-driven disclosures increased annual reported capital income by $2-$4 billion, corresponding to $0.6-$1.2 billion in additional tax revenue.

Scope of Project

JEL Classification:
H24 Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
H26 Tax Evasion and Avoidance

Data Type(s): aggregate data; program source code

Related Publications

Download this project

Published Versions

V1 [2020-07-06]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as received from the data depositor. As of April 2026, depositors are required to submit study materials in accessible formats. ICPSR has not reviewed, checked, or processed this material. For additional information about the study, please contact the investigator(s) directly. If you have questions about the accessibility of materials distributed by ICPSR or require further assistance, please visit ICPSR's Accessibility Center.