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A Tax Notes investigation unveiled how money sheltered in offshore insurance investment vehicles has eluded IRS auditors hampered by poor training and silos within the agency.  

Leaked documents obtained by the International Consortium of Investigative Journalists and reviewed by Tax Notes show private placement life insurance structures — a special type of insurance available only to wealthy investors — with millions of dollars set up in offshore tax havens like Belize and the Cayman Islands. 

Three members of the Tax Notes investigations team explain their reporting process, from choosing the topic to final follow-ups. 

If you have a tip for the investigations team, reach them at [email protected] or through the Signal app at 347-731-3183.

For more, check out the team's coverage on private placement life insurance:

• Chance of Changes to Life Insurance ‘Wrappers’ Dims Postelection
• How Offshore Life Insurance Helps Business Owners Minimize Taxes
• High-End Life Insurance Policies Lured Offshore by Relaxed Rules
• Inside How Private Placement Life Insurance Slips Through the Cracks

To hear Senator Wyden's full statement, visit https://www.youtube.com/watch?v=xiez_NnUBZQ.

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Credits
Host: David D. Stewart
Executive Producers: Jasper B. Smith, Paige Jones
Showrunner: Jordan Parrish
Audio Engineers: Jordan Parrish, Peyton Rhodes
Guest Relations: Alexis Hart