IRS Shares Taxpayer Financial Information on Undisclosed Bank AccountsOffshore Account Update
Posted in on August 13, 2011
In an effort to promote full disclosures and tax compliance, the Internal Revenue Service has been sharing personal and financial U.S. taxpayer information with other foreign countries. The exchange of such information could further provide U.S. agencies with sufficient evidence to open criminal investigations against U.S. taxpayers with undisclosed offshore banks accounts.
U.S. taxpayers with undisclosed offshore accounts still have the opportunity to come forward through the IRS’s traditional Voluntary Disclosure Program before foreign banks turn over information concerning their undisclosed offshore accounts.
The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the 2011 IRS Voluntary Disclosure Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!