IRS Poised to Announce New FBAR Amnesty (Boston Business Journal)

Publication Name: 

BBJ, February 4-10, 2011 Vol. 31, No. 2

Friday, February 4, 2011

Since 2009, the Internal Revenue Service has granted amnesty from criminal prosecution to nearly 20,000 “honest innocents” who failed to report their offshore income and failed to file foreign bank account reports (FBARs). Recently, IRS has floated a series of trial balloons to gauge public reaction to a massive new voluntary disclosure initiative. Download our analysis below.