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IRS Extension To Offshore Declaration Deadline
3 June 2011
The Internal Revenue Service is to let US taxpayers with undeclared offshore accounts apply for a 90-day extension of the current end-August deadline for coming forward. Taxpayers must demonstrate in writing that they have made a “good faith attempt” to beat the deadline and to explain what information is missing. The current program is the second such, involving payment of back taxes, interest and other penalties.