The deadline for foreign investors to participate in the IRS voluntary disclosure program is September 23, 2009.
Taxpayers wishing to participate must amend their income tax returns to properly reflect any previously unreported foreign earned income and must file the appropriate foreign account disclosures.
If you want your CPA or tax attorney to represent you in this process you need to move quickly. He or she will need at least a week to gather the correct information, prepare the appropriate filings and file the required voluntary disclosure forms.
Caution: Most CPA’s are qualified to assist taxpayers in the voluntary disclosure process, however, most states do not allow a privilege for communications made by taxpayers to their CPAs. For this reason, we recommend that taxpayers engage a lawyer to assist them in the process. If that lawyer needs the assistance of a CPA, the CPA will then be covered under the attorney-client privilege.
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1 IRS Amnesty: Less than 2 Weeks Remain for Voluntary Disclosure Filings | taxattorneystate.com // Sep 9, 2009 at 6:30 pm
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2 Tax Crimes Alert: Time for Amnesty is Running Out // Sep 14, 2009 at 1:01 pm
[...] IRS Amnesty: Less than 2 Weeks Remain for Voluntary Disclosure Filings [...]
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