The IRS announced changes to its offshore voluntary compliance
programs this week, enforcing harsher restrictions on US citizens who deliberately
dodge taxes through illegal actions, while easing penalties for citizens who unintentionally
evade taxes. The revised programs include a 50 percent penalty on offshore
accounts if there is publicity about the IRS or the Justice Department
investigating a financial institution where the person holds an account. (IRS
Makes Changes to Offshore Programs; Revisions Ease Burden and Help More
Taxpayers Come into Compliance)
