03 Mar IRS Initiates Second Offshore Amnesty Program
On February 8th, 2011, the IRS announced the 2011 Offshore Voluntary Disclosure Initiative for taxpayers with undisclosed income in foreign bank accounts to come forward and get current with their taxes. By coming forward voluntarily, taxpayers can generally avoid criminal prosecution and pay a reduced penalty. To participate, taxpayers must submit several documents and amended tax returns by August 31, 2011. For more information visit: http://www.irs.gov/newsroom/article/0,,id=234900,00.htmlDisclaimer: This blog and website are public sources of general information concerning our firm and its lawyers, as well as the information presented. They are intended, but not promised or guaranteed, to be correct, complete, and up-to-date as of the date posted. This blog and website are not intended to be, and are not, sources of legal opinion or advice. The materials, information, and communications on this blog and website do not apply to any particular person, entity, or situation, and do not apply to you or to your specific situation. You will need to consult with an attorney and/or other appropriate professional about your specific situation. Thank you.