IRS Announces Unprecedented Settlements Under Voluntary Disclosure Program as UBS Prepares to Disclose More Names

November 18, 2009 by David S. Seltzer

I have written here about the IRS voluntary disclosure program several times in the past. As a Miami-Dade tax evasion criminal defense attorney, I was extremely interested in the opportunity it offered taxpayers to avoid harsh penalties from the IRS crackdown on taxpayers who, through innocent mistakes or deceit, failed to declare their income from overseas bank accounts. The voluntary disclosure program ended Oct. 15, and according to the Associated Press, it helped more than 14,700 U.S. taxpayers clear their tax accounts without risk of criminal prosecution. The article also says that Swiss bank UBS is ready to disclose the first of the 4,450 names of American tax scofflaws as part of a settlement in related litigation. That includes 400 names to be disclosed by the end of this week -- meaning that 400 taxpayers will need experienced South Florida tax evasion criminal defense attorneys very soon. If you're one of them -- or you have another reason to be concerned about tax evasion prosecution -- don't hesitate to contact my office online or call 1-866-ARRESTED toll-free from anywhere in Florida for a free consultation.

For more information, you can read the AP article in the Miami Herald: IRS settles with 14,700 over foreign accounts