IRS Provides New Guidance on Duel Citizens with Undisclosed Offshore Accounts!Offshore Updates
Posted in on June 28, 2012
The Internal Revenue Service recently released new guidance on duel citizenship as well as citizens living aboard and how it will affect undisclosed offshore account holders and their reporting requirements. This information provides US taxpayers with undisclosed offshore accounts a better understanding of their exposure to both civil and criminal penalties.
For more information on duel citizenships and how it can affect your tax liability on your undisclosed offshore accounts contact Thorn Law Group now before it's too late!