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

New IRS Unit Dedicated to Investigating U.S. Taxpayers with Undisclosed Offshore Accounts

Posted in Offshore Account Update on September 14, 2009 | Share

The IRS recently reaffirmed its commitment to combating offshore tax evasion by forming a new elite unit of professionals dedicated to investigating and auditing offshore tax evasion by U.S. taxpayers.   Taxpayers with undisclosed foreign accounts should take careful notice of the IRS’s commitment of resources to a long-term strategy for pursuing unreported income and assets kept in undisclosed offshore accounts.

The new IRS unit will be comprised of auditors and professionals with specialized experience in investigating complex cross-border transactions and multi-national business structures.   The group will be a part of the IRS Large and Mid-Size Business division and will be a part of LMSB’s global high-wealth industry office.   The global high-wealth industry office will be responsible for monitoring and examining wealthy individual U.S. taxpayers as well as businesses and other entities suspected of offshore tax evasion.

In the short-term, the unit will provide much needed assistance to an estimated 10,000 cases related to the investigation of Swiss-banking giant UBS AG – including the 4,450 taxpayers UBS will provide to the IRS plus the thousands of taxpayers anticipated to participate in the IRS’s offshore account voluntary disclosure initiativeU.S. taxpayers with undisclosed accounts in foreign banks, such as UBS, have just two weeks – or until September 23, 2009 – to make a voluntary disclosure of their offshore accounts to the IRS or risk facing increased monetary penalties and potential criminal prosecution.

The new IRS unit was created in part to deal with the offshore settlement initiative; however it will play a larger role beyond the UBS investigation.   The move signals an ever-increasing priority in the IRS offshore tax evasion enforcement strategy – aggressively pursuing individual U.S. taxpayers with undisclosed foreign accounts.


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."
Elena Cardaropoli