New 2012 IRS Offshore Tax Amnesty Program Announced

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The IRS announces an unprecedented fourth offshore tax amnesty program - the 2012 Offshore Voluntary Disclosure Program. This one just months after the last amnesty ended.

Why? Because hundreds of thousands of U.S. taxpayers - often dual nationals, Americans living abroad or foreign born U.S. residents - simply don't know of the requirement to report offshore accounts.

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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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