The Department of Justice has recently announced an investigation into HSBC Bank through the issuance of a "John Doe" Summons. Kevin E. Thorn, a tax controversy attorney with experience as a former Internal Revenue Service attorney, comments on the unfolding investigation.

Kevin E. Thorn believes that the growing number of offshore related indictments has made taxpayers increasingly interested in the IRS’s 2011 Amnesty Program; taxpayers see the program as an opportunity to disclose their unreported offshore accounts.

As more taxpayers with undisclosed offshore accounts are being indicted by the DOJ, Kevin E. Thorn would like to emphasize the opportunity furnished by the New Amnesty Program for those who have yet to come forward.

IRS announces today Special Voluntary Disclosure Initiative is available through August 31, 2011. Kevin E. Thorn encourages U.S. taxpayers with undisclosed offshore accounts to come into compliance.

Kevin E. Thorn believes the release of another 2,000 is highly likely. This release could have a big impact on U.S. taxpayers in that there will be another pool for the DOJ and IRS to proceed criminally and civilly against. Taxpayers not in compliance should be taking this possibility seriously and work with professionals to come into compliance if they have not already done so.