The IRS has given American taxpayers with undeclared assets offshore one final chance to come clean and disclose details of their money overseas. They have to do so by August 31 if they wish to escape criminal charges. This is now the second time an amnesty program has been offered. And according to IRS Commissioner, Doug Shulman, “This new disclosure initiative is the last, best chance for people to get back into the system.”
A statement on the IRS website says, “This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax problems once and for all. And it gives people a chance to come in before we find them.”
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