Ever since the latest IRS crackdown on American offshore bank account holders, Swiss banks such as Julius Baer Group has reported losses in financial assets due to scared Americans who are withdrawing their money. This latest news shows that the IRS has successfully struck fear among Americans who up until recently, have been able to evade taxes with offshore bank accounts.

According to the NYTimes, “shares in Julius Baer fell 2.78 francs, or 6.9 percent, to close at 37.79 francs last week.” Since Julius Bauer Group does not have a large onshore presence in Europe to capture assets, this latest trend of American account holders pulling out their funds is especially troublesome.

It’s not unusual for companies that do business internationally to have offshore bank accounts. But what offshore account holders need to know is that the IRS is determined to smoke out more tax revenue from offshore hiding places than ever before. I recently blogged about how offshore account holders can still get tax help to get an IRS offshore tax settlement–learn more about how you can get tax help to reduce your IRS tax penalties.

But don’t let fear of the IRS overwhelm you. Even if you missed the Oct 15th deadline to disclose your foreign accounts, you can still get tax help to reduce your IRS penalties and criminal sanctions. A tax resolution expert or tax attorney can help you get a good IRS offshore tax settlement even if you failed to disclose your account before October 15th.

These are crucial times for offshore account holders to get the right kind of tax help. Dealing with offshore tax evasion cases before the IRS requires a whole new level of rigor. Make sure that you get tax help from someone who is experienced and an tax resolution expert instead of just any tax attorney or CPA. Make sure you hire someone who can act both as a financial adviser as well as a tax savior.

To learn more about how you can reduce your IRS penalties and get an IRS offshore tax settlement, visit our latest IRS offshore tax settlement page to discover your tax resolution options. You can also visit our TRS news page for more tax help resources to obtain tax relief.

If you believe that you owe back taxes on your foreign accounts, you need to retain either a tax attorney, tax resolution specialist or CPA who will take over all communications with the IRS, make the required disclosures, file FBAR reports and amend tax returns typically for 2003 through 2008.

Tax Resolution Services is a team of tax attorneys, CPAs, and tax resolution specialists who can help you get the expert tax advice you need. Call us today at 1-866-477-7762 for your free consultation or visit our website at www.taxresolution.com

More Tax Help, IRS News and Tax Relief Tips:

1. IRS Offshore Accounts Update: Get Tax Help Before IRS Starts Its Plan to Hire 800 People and Go Global to End Bank Secrecy
2. IRS Tax Help From Tax Expert: What Individuals and Businesses Need to Know to Avoid Tax Problems
3. Release Your IRS Bank Levy: How a Tax Attorney or Certified Tax Resolution Specialist Can Give You an Advantage
4. Tax Help For Offshore Account Holders as Swiss Government Seeks to Salvage UBS Agreement
5. Top Tax Help Tips For Taxpayers Looking to Settle Tax Debt With an IRS Installment Agreement

Tags: Back Taxes, IRS offshore tax settlement, IRS penalties, Julius Baer Group, Penalty Abatement, tax attorney, tax evasion, tax help, UBS settlement

This entry was posted on Wednesday, November 18th, 2009 at 2:04 pm and is filed under Back Taxes, Offshore Tax Settlements, Penalty Abatement, Seeking Professional Tax Help, Tax news and tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.