In the U.S. tomorrow ends the action of the tax amnesty program for citizens, harboring their funds in foreign offshore

Written by admin on October 14th, 2009

tomorrow in the U.S. ends operation of the tax amnesty program for Americans, harboring their funds in foreign offshore. According to estimates of experts, attended by at least 4 thousand people. But despite the apparent success of the program, American taxpayers are still held in accounts abroad, tens of billions of unaccounted dollars, writes RBC daily.

program for voluntary disclosure of information about accounts in foreign banks was opened by the U.S. Internal Revenue Service (IRS) in March this year. The reason for the start of the amnesty serve as the voluntary surrender of the Swiss bank UBS, American customers by the most conservative estimates have not paid into the treasury of taxes on U.S. $ 20 billion in February this year, UBS revealed the names of 250 Americans who have deposits in the bank, and paid U.S. authorities compensation in the amount of $ 780 million, in August, the Swiss bank gave IRS data on 4450 of its customers, the accounts of which a total is more than 18 billion dollars

If you find shadow offshore accounts IRS has the right to withdraw 50% of the amount and bring violators of the law a criminal case. Now such litigation in the United States are maintained in respect of 150 dishonest taxpayers. However, amnestied members of the state program need not fear prosecution. They must pay the government only 5-20% of the total bill.

program originally scheduled to end September 23. However, as noted by RBC daily counsel Caplin Drysdale Kono Namorato, in the last days of the amnesty tax lawyers the U.S. simply can not cope with the wish to complete a declaration, so the authorities decided to extend the program until mid-October.

According to RBC daily Dewey LeBoeuf lawyer Mark Ellison: IRS resources are not infinite, so now the authorities primarily focus their attention only on the largest off-shore accounts. However, the ordinary Americans who keep money in foreign banks, to understand that in any time may be prosecuted. On their offshore accounts in the past six months, said nearly 5 thousand people.

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