The Internal Revenue Service today reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes. It also announced the collection of more than $4.4 billion so far from the two previous international programs. After the closure of the 2011 and 2009 disclosure programs, taxpayer and professionals alike showed strong interest in another opportunity to reveal hidden offshore funds. This program will be open for an indefinite period until otherwise announced.
See "IRS Offshore Programs Produce $4.4 Billion To Date for Nation's Taxpayers; Offshore Voluntary Disclosure Program Reopens," IR-2012-5 (Jan. 9, 2012)
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