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Voluntary Disclosure Initiative
International Revenue Service:
Second Special Voluntary Disclosure Initiative
The Internal Revenue Service announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes.
The new voluntary disclosure initiative will be available through August 31, 2011.
"As we continue to amass more information and pursue more people internationally, the risk to individuals hiding assets offshore is increasing," said IRS Commissioner Doug Shulman. "This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax problems once and for all. And it gives people a chance to come in before we find them."
Please view the full press release by clicking on the link below.
IRS News Releases
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  • Second Special Voluntary Disclosure Initiative Opens - Press Release
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  • Voluntary Disclosure Initiative - Frequently Asked Questions and Answers