• IRS Announces a Reduced Penalty Structure for Voluntary Disclosure Requests Involving Offshore Accounts
  • April 8, 2009 | Authors: Scott E. Fink; Barbara T. Kaplan
  • Law Firm: Greenberg Traurig, LLP - New York Office
  • On March 23, 2009, the Internal Revenue Service (IRS) announced a new penalty framework which will limit the penalties asserted against taxpayers that voluntarily disclose their foreign entities and bank, brokerage and other financial accounts in an effort to encourage those taxpayers to come forward.