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Swiss Banks Continue to Send Letters to U.S. Taxpayers with Undisclosed Offshore Accounts!

Offshore Account Update

Posted on May 18, 2014 |

Swiss banks are continuing to send letters to U.S. Taxpayers with undisclosed Swiss accounts encouraging them to come forward and declare their undisclosed offshore accounts or be closed out.

The banks are trying to get rid of undisclosed American accounts before the banks are investigated and heavily fined.

Letters are also being sent to U.S. taxpayers with hidden Swiss account information because some of the banks in Switzerland are participating in the Internal Revenue Services’ Voluntary Disclosure Program for banks.  The Swiss banks have entered into this program in an attempt to avoid criminal prosecution and/or criminal investigation and in the process are exposing U.S. client banking information in order to avoid severe penalties. 

United States Taxpayers with offshore undisclosed bank accounts need to enter into the Internal Revenue Service IRS Voluntary Disclosure Program before their information is disclosed to the IRS and the Department of Justice (DOJ).  Disclosure to the IRS through the IRS Amnesty Program must occur before the U.S. Taxpayer 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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