Tampa Criminal Tax Charges and Amnesty

Tampa, Florida Criminal Defense Attorney notes that Lawyers and advisers from several firms have indicated they have been inundated with calls from people hiding assets overseas. Their advice: Call the IRS before the IRS calls you.

In Florida, international tax dodgers can apply for the Internal Revenue Service Amnesty Program. So far, over 3,000 (up from 100 the previous year) Americans who were hiding assets have enrolled. Deadline is October 15, 2009. The feds have promised no jail time and reduced penalties for tax evaders who come forward according to media reports citing an anonymous IRS source.

Even before this program, The IRS allowed tax evaders who come forward before they are contacted by the agency to avoid jail time, if they agreed to pay back taxes, interest and penalties. If the money has been earned legally, then tax evaders can usually avoid criminal prosecution.

Swiss banking giant UBS AG has turned over details on 4,450 accounts suspected of holding undeclared assets from American clients. If the IRS obtains information about international tax evaders, they are ineligible for the amnesty program.

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Source: TBO / AP

Tampa Florida Criminal Tax Charges Attorney Lawyer