What if I have a foreign bank account that I have not reported? | Jeffrey L. Cohen, Attorney at Law | Atlanta, Georgia

//What if I have a foreign bank account that I have not reported? | Jeffrey L. Cohen, Attorney at Law | Atlanta, Georgia
What if I have a foreign bank account that I have not reported? | Jeffrey L. Cohen, Attorney at Law | Atlanta, Georgia 2018-01-19T18:58:16+00:00

What if I have a foreign bank account that I have not reported?

The IRS had an offshore disclosure initiative in 2009, but it has expired. However, on February 8, 2011 it announced a new Offshore Voluntary Disclosure Initiative to enable those with undisclosed foreign bank accounts to avoid criminal prosecution and get back into the system. The deadline for this new program is August 31, 2011. Please contact Mr. Cohen to discuss if this program would be advisable for you, and how the civil penalties would affect you.

Previous FAQ: Why is a tax return audited?

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For a free initial consultation with an experienced tax law, business law and estate planning lawyer, call Jeffrey Cohen today at 404-937-1414. You may also contact us online to discuss your business, tax or estate planning needs. Mr. Cohen’s tax and business law firm online.

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