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Letters from Swiss Banks to U.S. Taxpayers with Undisclosed Offshore Accounts Should Enter the IRS Voluntary Disclosure Program Before Your Information is Disclosed to the IRS!

Offshore Account Update

Posted on March 21, 2014 |

Swiss banks have been sending letters to United States Taxpayers with undisclosed Swiss bank accounts to inform them that they should come forward and reveal their undisclosed overseas Swiss bank accounts to the IRS. In addition, U.S. Taxpayers with recently closed Swiss accounts that were undisclosed will be reported to the IRS. American Taxpayer account information is being revealed because some Swiss Banks are participating in the IRS Voluntary Disclosure Program for banks. The Swiss banks that are entering the Voluntary Disclosure Program are trying to avoid severe penalties, criminal prosecution and/or criminal investigation.  

U.S. Taxpayers with undisclosed Swiss bank accounts should enter the Internal Revenue Service, (IRS), Voluntary Disclosure Program before their undisclosed account information is disclosed to the Department of Justice and the IRS.  American Taxpayers with undisclosed overseas accounts should enter the IRS Voluntary Disclosure Program and come into compliance, - before the Department of Justice and/or the Internal Revenue Service contacts them or they could face criminal prosecution, and/or severe penalties.

The attorneys at Thorn Law Group have experience in assisting U.S. taxpayers into compliance through the 2012 IRS Amnesty Program. If you have an undisclosed offshore account contact Thorn Law Group now before it's too late!

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

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