06/01/2010 05:12 am ET Updated May 25, 2011

IRS Launches Unit Aimed At Catching Wealthy Tax Cheats

WASHINGTON (Reuters) -- Audits are underway at a new Internal Revenue Service unit set up to catch rich tax cheats hiding funds in tax shelters, but don't expect a flood of evaders to come to light any time soon.

The chief of the new group said audits have begun in the last several months, but none have been wrapped up yet.

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