Shulman Says IRS ‘Seriously Considering’ New Amnesty
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The U.S. Internal Revenue Service is “seriously considering” a new partial amnesty program for taxpayers who report secret offshore bank accounts, Commissioner Douglas Shulman said today.
Shulman said the IRS may repeat a voluntary disclosure program such as one that drew nearly 15,000 taxpayers between March 2009 and October 2009. They avoided prosecution by declaring accounts and paying fixed penalties. Since then, another 3,000 taxpayers declared accounts and face undetermined penalties.