The cost of the voluntary asset disclosure program will vary for each individual depending on how long they have had foreign assets and if they willingly come forth. With international banking institutions cooperating more and more with each other it's getting near impossible to keep foreign assets secret. You can hire an expert in foreign asset disclosure and get it over with, paying as little as possible, or wait till the IRS comes knocking, and they will, and get hammered. Your choice.
International Law & Trade Updates, Tax Law Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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