After Voluntary Disclosure Initiative Closes, IRS Moves On To Information Document Requests For Offshore Account HoldersPress Releases
Posted in on December 3, 2009
In the wake of the UBS AG fallout and the closing of its Offshore Voluntary Disclosure Initiative on October 15, 2009, the IRS continues to wage its attack on offshore tax evasion. One IRS tactic is to issue an Information Document Request – or IDR – to taxpayers suspected of having unreported foreign bank accounts requesting documents and materials related to the foreign accounts. DC tax attorney Kevin Thorn discusses the potential for more IDRs to be issued as the result of information received by the IRS from UBS and the significant participation in the Voluntary Disclosure Initiative.