Amnesty Period Ends for Tax Evaders

Accountholders of secret Swiss bank accounts that failed to pay the appropriate taxes on their money were offered a limited-amnesty deal by the government so that they would come forward. However, the amnesty period has now ended, meaning that the accountholders that come forward now will face an increased chance of criminal prosecution.
More than 7,500 accountholders came forward to take advantage of the more lenient terms. Those that still want to turn themselves in, though, can still go through one of the IRS’s longstanding programs in order to do so. In fact, officials do not expect the end of the …read more