TIGTA praises IRS for offshore-account amnesty program

10/30/2011 | Accounting Today · Bloomberg Businessweek

The Treasury Inspector General for Tax Administration praised the Internal Revenue Service's handling of the large number of offshore bank account holders who participated in the agency's 2009 partial-amnesty program. The smooth administration of the program increased taxpayer compliance, the report said. About 15,000 U.S. taxpayers participated in the 2009 initiative, and about the same number participated this year. The report also provided recommendations for improving the IRS' administration of the program, including requiring taxpayers to provide more information about unreported income.

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Accounting Today · Bloomberg Businessweek

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