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Letters from Swiss Banks are Being Sent to U.S. Taxpayers with Undisclosed Offshore Accounts

Offshore Account Update

Posted on April 21, 2014 |

Letters from Swiss banks are being sent to U.S. Taxpayers with undisclosed offshore accounts. These letters are encouraging American taxpayers to come forward and declare their undisclosed offshore accounts or be closed out.

Many banks in Switzerland are participating in the Internal Revenue Services’ Voluntary Disclosure Program for banks. Swiss banks have entered into this program in an attempt to avoid prosecution and/or criminal investigation, but in the process are exposing U.S. taxpayer account information.

American Taxpayers with offshore undisclosed bank accounts need to enter into the Internal Revenue Service IRS Voluntary Disclosure Program before their information is revealed to the IRS. U.S. taxpayers must voluntarily disclose their account information to the IRS through the IRS Amnesty Program before the U.S. Taxpayer is contacted by the IRS.

For a consultation, contact Kevin E. Thorn, Managing Partner, at ket@thornlawgroup.com or (617) 692-2989

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