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Minimizing Penalties for Unreported Foreign Bank Accounts

Taxpayers with unreported foreign bank accounts are sweating bullets these days. The IRS is in the midst of an unprecedented crackdown on foreign bank accounts.

20 minute read March 26, 2010 at 10:51 AM
By
Bryan C. Skarlatos and Michael Sardar
Minimizing Penalties for Unreported Foreign Bank Accounts

Taxpayers with unreported foreign bank accounts are sweating bullets these days. The IRS is in the midst of an unprecedented crackdown on foreign bank accounts. The primary example is the criminal prosecution of UBS (f/k/a Union Bank of Switzerland).

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