Now is the Time to Declare Funds in Foreign Bank Accounts: 19,000 Americans Face Penalties as IRS Cracks Down on Offshore Tax Evasion
Wednesday, April 28th, 2010Jim Angle of FOXnews.com reports that Americans involved in hiding offshore funds in Swiss Bank UBS have inspired the IRS to establish a new unit which will track high-wealth individuals operating globally. The IRS is ready to get to the bottom of the $300 billion tax gap that has been haunting the federal government for the past few years. They’ve invested $20 billion in the program in order to guarantee
