First Prosecution of an Offshore Account Holder in a UBS Tax Case Sends Message: IRS Will Not Tolerate Offshore Tax Evasion
Thursday, October 29th, 2009On Friday, the first American was prosecuted in a UBS tax case and sentenced to house arrest after admitting he concealed about $6 million in assets from the IRS.
Americans who missed the October 15th deadline for tax amnesty can still reduce severe IRS penalties for offshore accounts (including FBAR penalties that can amount to 200-300% of the asset value of the account!) Account holders need to get expert tax help
