Blog

30,000 Taxpayers Voluntarily Disclose Offshore Assets

The IRS just reported that the 30,000 taxpayers who voluntarily disclosed their offshore assets have provided a wealth of information on various banks and advisors assisting people with offshore tax evasion. “We have pierced international bank secrecy laws, and we are making a serious dent in offshore tax evasion.” “But just as importantly, we have changed the risk calculus. Americans now understand that if they try to hide assets overseas, the chances of being caught continue to increase.”