IRS DEADLINE FOR VOLUNTARY DISCLOSURES
The deadline
for making a voluntary disclosure under the IRS' special
USB/International effort is almost here. October 15, 2009
is the current deadline for taxpayers to take advantage
of some incentives offered by the IRS to encourage them
to come forward to report previously unreported income and
ownership of foreign bank accounts. The IRS initiated a
voluntary
disclosure program for people who need to file original
or amended FBAR reports for earlier tax years.
People who
have or had bank accounts and other financial accounts abroad
and/or desire to participate in the special IRS voluntary
disclosure process should should seek advice from a well
qualified accountant or attorney when deciding how to file
their late FBARs. A taxpayer may call the phone number associated
with the Country in which they reside. See Contact
IRS About Voluntary Disclosure. (Updated 7/29/09)
[Posted: September 30, 2009]
