U.S. Citizens in Canada InfoShop

2011 Nov 9 – Feldman

 
Amy Feldman
Undisclosed foreign accounts? The IRS is coming
Reuters U.S. (9 Nov 2011)


http://www.reuters.com/article/2011/11/09/offshoreaccounts-irs-idUSN1E7A80V920111109

The end of a second specific “voluntary disclosure” program on Sept 9 leaves noncompliant U.S. citizens with the option of traditional voluntary disclosure. “For U.S. citizens who have not paid taxes on substantial offshore assets, the hope of hiding from tax authorities seems increasingly unlikely.” Story includes sketch of background history and summary figures for participation and penalties exacted.
 

Written by usxcanada

9 November 2011 at 7:00 am

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