Has Your Offshore Account Been Outed? Know What Steps to Take Next
Offshore Account UpdatePosted in on July 31, 2017
When 11.5 million files leaked from a prominent Panama-based law firm, the leaked files revealed the secret ownership of confidential offshore accounts by a number of wealthy individuals. While having offshore accounts is not, by itself, unlawful, many of the holders of these offshore accounts were not in compliance with tax laws. Failing to report offshore accounts and not paying taxes on investment income held in offshore accounts can have serious consequences.
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