Liechtensteinische Landesbank to Turn Over U.S. Client Data: Undisclosed Offshore Account Holders are Urged to Enter the 2012 IRS Amnesty InitiativeOffshore Account Update
Posted in on August 19, 2012
Liechtenstein’s second largest bank, Liechtensteinische Landesbank AG (LLB), is beginning the process of turning over U.S. account holder data to U.S. authorities. Any U.S. client who maintains an undisclosed offshore bank account through LLB will have their information turned over to U.S. authorities. LLB is currently notifying its U.S. clients that the bank intends to comply with the IRS information request.
LLB account holders with undisclosed offshore accounts should come forward now, through the 2012 IRS Offshore Voluntary Disclosure Initiative, before the bank turns over client names. Criminal investigations initiated by the Department of Justice regarding undisclosed offshore accounts can result in significantly greater financial penalties and the possibility of prosecution. Immediate action and experienced tax law representation is needed to voluntarily disclose your account in order to reduce your risk of a criminal investigation.
Now more than ever is the time to hire an experienced Tax Attorney to help you through the 2012 IRS Amnesty Program.
The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the 2012 IRS Amnesty Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!