IRS revives program to forgive tax evaders hiding money in offshore accounts

The Internal Revenue Service has revived a program that gives tax evaders the chance to report their income and avoid any future criminal tax charges.

Any tax attorney can confirm how troubling criminal tax charges can be, an offender faces years of incarceration and heavy financial penalties. The IRS has decided that they will revive the program and allow tax dodgers to pay their back taxes and late penalties.

IRS Commissioner Douglas Shulman has stated that the program which was utilized in 2009 and 2011 netted $4.4 billion in lost tax revenue. Close to 33,000 came clean and reported their income.

Billions of dollars in tax revenue are hidden in offshore accounts and the IRS has stepped up their efforts to catch evaders. The IRS has fined a prosecuted many people who have dodged their taxes.

Under the program, people who come forward will have to pay a fine of 27.5 percent of the assets they hid in offshore accounts. They will have to pay their taxes plus interest.

In exchange for doming forward they will avoid any future criminal prosecution and even higher penalties.

Criminal tax charges are difficult to fight and make the assistance of a tax lawyer critical. With their assistance you may be able to make a plea and avoid jail time. A tax attorney is capable of help a person with numerous tax issues.