Information Document Requests by the IRS for Domestic and Offshore Accounts

The Internal Revenue Service has stepped up its game, and is proposing no civil or criminal penalties for taxpayers that voluntarily come forward and comply with paying their taxes from undisclosed domestic and offshore accounts.  If taxpayers do not pay their worldwide income taxes, the Internal Revenue Service and the Department of Justice have established several asset finding resources which include the Foreign Account Tax Compliance Act, information exchange treatises, whistle-blower programs, and other initiatives to encourage tax compliance.