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DOJ Obeys Congress and Promises to be Tougher on Swiss Banks and US Taxpayers with Undisclosed Offshore Accounts! US taxpayers with Undisclosed Offshore Bank Accounts should File IRS Voluntary Disclosures Before Investigations are Opened!

Offshore Updates

Posted in on March 10, 2014

During last weeks Congressional hearings, U.S. senators told the DOJ to obtain more information from Swiss banks on US taxpayers with Undisclosed Offshore Accounts and do it quickly and to use all the tools at their disposal.

It was reported during those same hearings, that thousands of Credit Suisse Group AG’s U.S. clients, still had not reported their foreign bank account information.  Credit Suisse executives stated during the same hearings that the bank would cooperate.

What does all this mean? Likely, Credit Suisse is and/or will be cooperating with US authorities in disclosing the names of US taxpayers with undisclosed offshore accounts, and that prosecutors will be acting more aggressively in the coming months!

What you should do? Failure to Disclose an account is a Felony and criminal.

Contact an experienced IRS Tax Attorney (not CPA) and file an IRS Voluntary Disclosure before your information is disclosed and a severe criminal investigation is opened up!

For assistance in deciding the best way to come into compliance, contact Thorn Law Group today!

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