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U.S. starts new offshore amnesty for tax cheats

Wealthy tax evaders with assets stashed offshore can come clean with U.S. authorities under a new amnesty program letting them pay taxes with reduced penalties, the government said on Tuesday.

 

UBS Bank Accounts: More Than 7,500 Americans Come Forward About Secret Foreign Accounts

Faced with a Thursday midnight deadline to avoid possible prosecution, more than 7,500 Americans have come clean about secret foreign bank accounts, a senior IRS official said in an interview for broadcast tonight on "ABC World News with Charles Gibson."

 

Deadline looms for Americans to disclose accounts in foreign tax havens

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for failing to report those accounts. Tax attorneys have been besieged by wealthy clients who are lining up to apply.

Wealthy U.S.

 

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