Prepared By: Teig Lawrence, J.D., LL.M.
November 27, 2009 (2pm EDT)
If you have an undeclared offshore account with HSBC, you should be aware that the Internal Revenue Service (IRS) and the Department of Justice (DOJ) are now pursuing undeclared offshore accounts in Hong Kong. Expect a major announcement within the next 60 days from DOJ and IRS officials regarding the next bank to be targeted as the Hong Kong phase of the of the new offshore initiative gets underway.
It is not too late to make a voluntary disclosure with the IRS. If you have an undeclared offshore account, you should seek the advice of an offshore disclosure attorney as quickly as possible.
To schedule an initial consultation, call 305-576-4242.