For those who thought the heat from the UBS-IRS deal has passed, it’s time to think again.
The United States and Switzerland recently announced a new protocol where it will allow the Swiss government to provide information to the IRS on U.S. account holders of Swiss bank UBS.
According to Journal of Accountancy, “The protocol has been approved by the Swiss Federal Council and was signed in Washington on Wednesday, but the deal is still subject to ratification by the Swiss parliament.”
Once ratified, the Swiss government will be able to hand over more names to the IRS to audit and penalize whenever appropriate. The IRS is focusing on finding and penalizing more tax cheats and those who commit tax fraud–namely those who have not provided a W-9 for 3 years or more. This protocol will legalize Swiss cooperation with the IRS to reveal not only those who defraud the IRS, but those who severely cheat on their taxes.
If you have funds overseas and have not yet disclosed it to the IRS, now is the time to do so. I cannot emphasize enough how important it is for you to be completely honest with the IRS and go to them before they get to you.
I urge you to learn more from our Offshore Account Tax Settlements page to see whether you need to get professional tax help from an expert tax attorney, CPA, or Certified Tax Resolution Specialist. We have a special division for FBAR reporting and compliance, led by nation’s top offshore tax evasion defense expert Brian Compton, who is ready to help you with your IRS tax problems.
Remember, you have a great shot at winning a penalty abatement if you act now to disclose your offshore bank account(s) to the IRS before they find you. Once the Swiss government releases your name to the IRS, you will have a tougher case to fight and will most likely pay more severe IRS penalties and interest.
Call the Tax Resolution Services’ office of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists today at 1-866-IRS-PROBLEMS for a free tax resolution consultation or visit www.taxresolution.com.
More Tax Help, IRS News and Tax Relief Tips:
- IRS Relief News: 5 More Charged For UBS Tax Evasion
- UBS To Disclose Offshore Account Holders Details to IRS: Act NOW to Reduce Severe Penalties
- Tax Help: How to Resolve Your Back Taxes & Prevent Tax Problems If You’re Short on Cash This Season
- Tax Help From the IRS: Upcoming Saturday Open Houses For Resolving Tax Problems
- Tax Help Options For Overseas Tax Evasion as UBS Pushes For Swiss-US Deal
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