IRS Offers Third Offshore Voluntary Disclosure Program In As Many Years

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 20, 2012 -- January 2012, New Jersey— The United States government recently reopened its Offshore Voluntary Disclosure Program. This program allows Americans with undisclosed offshore banking accounts to come into compliance with penalties far less steep than the penalties for tax evasion. According to the IRS, the program was renewed because of increased interest from American taxpayers after the 2009 and 2011 programs ended. Many more people might want to take advantage of the program in order to come into compliance with United States tax law.

The program is, overall, similar to the 2011 offshore voluntary disclosure program in most of its details. For instance, the process for disclosing one’s offshore bank accounts are still similar, and you still need a talented New Jersey tax lawyer to bring you into compliance with the IRS. It still offers reduced penalties and a win-win situation for both the IRS and American taxpayers: the IRS doesn’t have to spend money tracking down and prosecuting people who have evaded their taxes, and American taxpayers don’t have to face the steeper penalties associated with tax evasion or the worry and stress of wondering if they’re going to get caught. However, there are a few differences in the penalty structure, so it is important to talk over with your New Jersey tax lawyer.
The Thorn Law Group has guided many taxpayers who, through some mishap, have ended up with undisclosed offshore bank accounts and desired to come into compliance with the IRS. It has experience with both of the previous Voluntary Disclosure programs over the last three years and is a highly experienced law firm in the field of New Jersey tax law. Contact the Thorn Law Group today; don’t be caught flatfooted when the IRS comes, be proactive and get yourself into compliance.

The Thorn Law Group consists of experienced New Jersey tax lawyers who are dedicated to serving their clients in New York, New Jersey, Connecticut and Pennsylvania. In civil and criminal cases, they defend their clients before the IRS, United States Tax Court and US Department of Justice in cases involving business or criminal tax law, offshore bank accounts, international tax disputes, audits, ethics and professional responsibility investigations and IRS whistleblowers.

The Thorn Law Group
(201) 842-7696
(201) 939-0977 (fax)
http://www.newjersey-tax-lawyer.com/.

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