Deadline Looms For Americans To Disclose Accounts In Foreign Tax Havens

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for failing to report those accounts. Tax attorneys have been besieged by wealthy clients who are lining up to apply. Wealthy U.S. taxpayers, concerned about an Internal Revenue Service crackdown on the use of secret overseas bank accounts as tax havens, are rushing to meet a Thursday deadline to disclose those accounts or face possible criminal prosecution.

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  • IRS Deadlines Loom for Taxpayers with Offshore Accounts ...
    The Internal Revenue Service on Wednesday reminded taxpayers with offshore accounts of two important June deadlines related to Foreign Bank and Financial Accounts filings and the Foreign Account Tax Compliance Act.
    03/29/2020 - 11:09 am | View Website
  • Deadline to report foreign account holdings looms | STEP
    Deadline to report foreign account holdings looms Wednesday, 28 May, 2014 American citizens and resident aliens must forward their Reports of Foreign Bank and Financial Accounts (FBARs) to the United States Treasury Department by June 30, 2014, The Internal Revenue Service (IRS) has warned.
    03/23/2020 - 1:17 pm | View Website
  • Deadline for U.S. Overseas Accounts
    It allows taxpayers who have failed to disclose and pay tax on offshore accounts to come forward voluntarily in exchange for relief from criminal prosecution and reduced penalties. The IRS announced in March that the program would end 28 September, and is now reminding taxpayers of that deadline.
    03/8/2020 - 3:30 pm | View Website
  • Fines loom as US deadline for reporting foreign bank ...
    Fines loom as US deadline for reporting foreign bank accounts hits Increasing numbers of ex-pats renounce citizenship as law forcing foreign banks to disclose Americans’ accounts to the IRS ...
    03/7/2020 - 12:58 pm | View Website
  • Deadline Looms For Americans With Offshore Cash : NPR
    Deadline Looms For Americans With Offshore Cash Wealthy Americans trying to evade taxes have often used offshore bank accounts to hide their money, and foreign bank secrecy laws have made it hard ...
    03/4/2020 - 11:28 am | View Website
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