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The Justice Department Is Believed To Be Negotiating With Credit Suisse For Access To Information Concerning The Undisclosed Accounts of U.S. Taxpayers

Offshore Account Update

Posted in on May 19, 2014

The Justice Department is believed to be negotiating with Credit Suisse for access to information on the undisclosed offshore accounts that belong to U.S. Taxpayers. If the negotiations move forward as anticipated, this would set a precedent for the procedures of the investigations of banks in the future.

If a bank believes that a criminal investigation might incur for helping U.S. Taxpayers with undisclosed foreign accounts evade the Internal Revenue Service (IRS), the banking community may be rethinking their positions and might consider cooperating with the Department of Justice.

U.S. Taxpayers with foreign undisclosed bank accounts should enter into the Internal Revenue Services (IRS) Voluntary Disclosure Program before their overseas account information is disclosed to the IRS.  Coming into compliance through the IRS Amnesty Program must occur before the U.S. Taxpayer with the undisclosed overseas account is contacted by the IRS.

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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