Over 14,700 Americans Admit Foreign Bank Accounts to IRS

Under an IRS voluntary disclosure program that allows U.S. taxpayers to come clean about secret foreign bank accounts and avoid possible prosecution, over 14,700 Americans have now admitted to hiding assets overseas, the IRS and the Justice Department announced today. The number nearly doubles the more than 7,500 Americans who reported such accounts to the IRS before the Oct. 15 deadline, following a settlement with Swiss banking giant UBS. "The message to American taxpayers is clear: the era...Full Story
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