IRS Offers New Incentives To Disclose Foreign Bank Accounts
As part of its continuing crusade against offshore tax cheats, especially among the super rich, the Internal Revenue Service today announced new incentives for the owners and inheritors of once-secret foreign bank accounts to disclose them. They include major changes in both the offshore voluntary compliance program, which has gone through several iterations since 2009, and the streamlined compliance procedures announced in 2012. U.S.
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