Experienced Tax Attorneys


Call Us Confidentially Now: 202-349-4033


Call us confidentially now:
202-349-4033


Confidential & Experienced Tax Lawyers

Get Help Now: 202-349-4033

News & Events

IRS Amnesty Ends but Undisclosed Account Holders Can Still Voluntarily Disclose

Posted in Press Releases on September 14, 2011 | Share

Kevin E. Thorn, Managing Partner of Thorn Law Group, counsels U.S. taxpayers with undisclosed offshore accounts that the IRS is still accepting voluntary disclosures of  foreign accounts, even though the 2011 Amnesty Program has ended.

Washington, DC (PRWEB) September 14, 2011 - Even though the deadline for the Internal Revenue Service’s 2011 Offshore Voluntary Disclosure Initiative has concluded, U.S. taxpayers with undisclosed offshore accounts still have the opportunity to come forward through the IRS’s traditional Voluntary Disclosure program.  Like the OVDI, the traditional Voluntary Disclosure program provides taxpayers an opportunity to come forward and potentially avoid criminal prosecution.  Both the IRS and Department of Justice have made it clear that taxpayers with undisclosed offshore bank accounts will be pursued by the government, potentially becoming subjects of criminal investigations.

Recent developments with investigations into prominent private offshore wealth management banks, regional – or cantonal – Swiss banks, as well as such large banks as Credit Suisse and HSBC, heighten the risks of not disclosing a foreign account. Taxpayers who have not disclosed their offshore bank accounts should do so before the Department of Justice begins to open investigations against them; information provided by Credit Suisse, HSBC or other banks during these investigations may be used by the IRS and the Department of Justice to support new investigations into U.S. taxpayers suspected of evading taxes.

Kevin E. Thorn, Managing Partner of Thorn Law Group, a law firm that represents many taxpayers throughout the U.S. and around the world with undisclosed offshore accounts states, “For taxpayers with undisclosed accounts who were unable to take advantage of the recent 2011 IRS Amnesty Program, now is the time for you to come forward and learn about other options the IRS provides in regards to voluntary disclosure in order to limit potential civil penalties and criminal exposure”.

Mr. Thorn encourages all U.S. taxpayers with undisclosed offshore bank accounts to “contact a tax litigation attorney immediately in order to learn of other disclosure options and to assess their exposure.”

For additional information on the news that is the subject of this release, contact Kevin E. Thorn, Managing Partner of Thorn Law Group at 202-270-7273 or visit us at https://www.thorntaxlaw.com.

About Thorn Law Group, PLLC: 
Thorn Law Group, PLLC is a law firm dedicated to helping clients resolve complicated tax, criminal tax, and international tax problems.

Contact: 

Kevin E. Thorn, Managing Partner Thorn Law Group, PLLC 

202-270-7273 

https://www.thorntaxlaw.com


Thorn Law Group

Get Trusted Help Now

Over 80 years of expertise for your complicated tax law issues.

Back to the Top

Hear What Our Clients Have To Say

"Kevin Thorn, Managing Partner of Thorn Law Group, is an excellent adviser. My family and I are US citizens living in Europe and the US. Mr. Thorn helped us to understand our opportunities for international investments and estate planning issues so that my siblings and I may continue to further the growth of our businesses, to care for our aging parents and provide for our children. Mr. Thorn and his team were sensitive to our family's needs and helped us identify and understand our options and potential risks associated with US and international activity."