IRS Voluntary Disclosure Program
The Internal Revenue Service (IRS) recently announced a voluntary disclosure program that allows people who failed to disclose income from offshore accounts to come forward before the program's August 31, 2011 deadline. Taxpayers that choose to participate in the program now will avoid facing far higher penalties as well as the possibility of criminal prosecution.
As the IRS continues to obtain information from offshore banks, it is expected that more and more people will be caught hiding assets and income offshore. This voluntary disclosure program is really the last chance for taxpayers to get into compliance with U.S. tax laws.
As international banks continue to abandon their tax secrecy rules, the time to voluntarily disclose hidden offshore assets and income is now as the risk of being detected will only increase.
Our CPA Firm can help you participate in this program before the deadline and help you avoid tens or hundreds of thousands of dollars in various penalties, interest and criminal prosecution as well. Even if the deadline has passed, we may be able to offer you alternative options, but its best to participate now before the IRS deadline expires.
Our CPA Firm never recommends that you deal with the IRS alone.
Our goal at Gonzalez & Company, CPA, PA is to resolve your tax problems and get you back on track with your life.
We can help you with any IRS Tax Problems, including:South Florida Certified Public Accountant (CPA).