Oct 15 is last day to report offshore accounts

A message from the IRS to those US taxpayers who have not disclosed offshore accounts...

Taxpayers Have Until Oct. 15 to File Extended 2008 Tax Returns; Offshore Voluntary Disclosures Also Due

IR-2009-87, Oct. 1, 2009

Listen to an Audio File for Podcast Watch a Video

Deadline nears for Special Offshore Voluntary Disclosures

Oct. 15 is the deadline for special voluntary disclosures by taxpayers with assets in previously undisclosed offshore financial accounts.

Under the special provisions issued in March, taxpayers with these accounts originally had until Sept. 23, 2009, to come forward. Those taxpayers who do not voluntarily disclose their accounts by Oct. 15 face harsh civil penalties, where applicable, and possible criminal prosecution.

Tax professionals or individuals who want to initiate a voluntary disclosure should call their local IRS Criminal Investigation office. Individuals or their representatives may either contact the nearest Special Agent in Charge, IRS Criminal Investigation, stating their wish to make a voluntary disclosure, or provide a letter outlining information needed to assist the IRS in determining their acceptance into the voluntary disclosure program.

See the Voluntary Disclosure page on IRS.gov for more details.

Taxpayers with questions on the offshore issue may also call the IRS Voluntary Disclosure Hotline (215-516-4777) .

---

On September 21, 2009, the IRS announced a one-time extension of the September 23, 2009 deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. Taxpayers now have until October 15, 2009. There will be no further extensions.

The September 23, 2009, deadline for certain FBAR filers and certain offshore-related information returns who have no unreported income is also extended to October 15, 2009. All other guidance included below may still be relied upon. For more specific information regarding the voluntary disclosure of offshore accounts and FBAR filings, see the related items below:

News Release IR-2009-84 and Overview of the Voluntary Disclosure Program

News Release	English	Chinese	French	Korean	Russian	Spanish	Vietnamese
Overview	English	Chinese	French	Korean	Russian	Spanish	Vietnamese

Related Items:

• IR-09-84, IRS Extends Deadline for Disclosing Hidden Offshore Accounts (9/21/09)
• Memorandum on Routing of Voluntary Disclosure Requests
  
• Memorandum on SB/SE and LMSB Offshore Examination Cases
  
• Memorandum Authorizing Application of Penalty Framework
• Questions and Answers (revised 9/21/09) HTML
  
• September 23 Deadline for Some FBAR Filers
  
• Voluntary Disclosure Optional Format Letter (Updated 7/29/09)
  
• IRS Commissioner's Statement on Offshore Income
  
  .