Swiss Banks Send Letters to U.S. Taxpayers with Undisclosed Offshore Accounts: Enter the IRS Voluntary Disclosure Program Before Your Information is Disclosed to the IRS!Offshore Account Update
Posted in on April 20, 2014
Swiss banks have been sending U.S. Taxpayers with undisclosed Swiss accounts letters informing them that the Swiss banks will be revealing their undisclosed offshore accounts to the IRS and the Department of Justice, (DOJ). In addition, recently closed Swiss accounts that any U.S. Taxpayer had will also be revealed in detail to the Department of Justice and the Internal Revenue Service. The disclosure of U.S. taxpayer undisclosed Swiss account information is occurring because some of the banks in Switzerland are participating in the IRS’ Voluntary Disclosure Program for banks. The Swiss banks that have entered into this program are trying to avoid criminal prosecution and/or criminal investigation and in the process are exposing U.S. client banking information.
United States Taxpayers with offshore undisclosed bank accounts need to enter into the IRS Voluntary Disclosure Program before their information is disclosed to the IRS and the Department of Justice. Disclosure to the IRS through the IRS Amnesty Program must occur before the U.S. Taxpayer is contacted by the IRS and/or the Department of Justice.
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!