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Cayman Islands are Latest Focus of Ongoing IRS and DOJ Investigations of U.S. Taxpayers with Undisclosed Offshore Bank Accounts!

Offshore Account Update

Posted in on May 18, 2014

The Cayman Islands are the latest targets of ongoing Department of Justice (DOJ) and Internal Revenue Service (IRS) investigations of American taxpayers with undisclosed offshore bank accounts. The investigations of the past week in the Cayman Islands should serve as a warning to any U.S. Taxpayer with an undisclosed offshore bank account.

Do not wait for a letter from a bank. If you are a U.S. citizen with an undisclosed offshore bank account, it is important to be aware that impending investigations by the IRS and DOJ are now occurring without warning. The IRS and DOJ have other ways of getting the account information of U.S. taxpayers with undisclosed overseas bank accounts.

If the IRS and/or DOJ contact a U.S. Taxpayer first with an undisclosed offshore bank account a letter, that taxpayer would not be eligible to participate in the IRS’s Voluntary Disclosure Program for undisclosed offshore accounts.  Enter the IRS Voluntary Disclosure Program now, before it’s too late.

If you have an undisclosed account please contact Kevin E. Thorn, Managing Partner of Thorn Law Group, today at (202)270-7273.


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