The IRS Amnesty Program for Undeclared Foreign Accounts and Entities applies to any U.S. citizen or resident who has not properly disclosed foreign entities and accounts in any foreign country, even if the failure to disclose was inadvertent. With the IRS's focus at its highest point at any point in history, the voluntary disclosure practice allows taxpayers to minimize their risks of civil penalties and criminal prosecution due to any unreported foreign entities and financial accounts.
Our International Tax professionals are experienced with foreign filing requirements and the IRS's voluntary disclosure practice. The government treats taxpayers who have come forward to fix past problems more leniently-don't wait to get caught.
2012 IRS Offshore Voluntary Disclosure Initiative
2011 IRS Offshore Voluntary Disclosure Initiative