September 28, 2022

This is Your Most Recent Last Chance to Bring That Offshore Money Home and Come Clean with the IRS

Doug Shulman believes in third chances:

IRS Commissioner Douglas Shulman, who announced the program’s renewal Monday, said previous efforts in 2009 and 2011 resulted in the collection so far of $4.4 billion from 33,000 people. He said the government could gain several times that amount, as a result of both the newest initiative plus people deciding against stashing their assets overseas in the first place. “If we catch people before they come in voluntarily, it’s going to be a much worse outcome for the taxpayer,” Shulman told reporters. 

Those of you that have passed up on the previous two opportunities to be good prodigal sons and daughters should count yourselves lucky.

IRS reviving program giving offshore tax cheats chance to come clean, pay penalties [AP]

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