2 IRS Voluntary Disclosure Program Facts


The IRS has been having an Offshore Voluntary Disclosure program for those who have not been paying taxes on their offshore bank accounts to voluntarily step forward and declare their assets in exchange for a lighter punishment. The deal is that if you participate in the Voluntary Disclosure program, you will escape criminal prosecution and be let off with payment of penalties, fines and interests on your taxes. The closing date to participate is August 31 this year.

Here are two little-known facts about the IRS Offshore Voluntary Disclosure Program...

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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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