In the Headlines
October 20, 2009
Getting Personal: New Era To Confess A Secret Bank Account
Wall Street Journal
Private Wealth Services Partner Kevin E. Packman was quoted in the Wall Street Journal article "Getting Personal: New Era To Confess A Secret Bank Account" on October 20.
The article reviews the end of a tax amnesty program for people with secret offshore bank accounts and ways in which they can disclose their account information to the Internal Revenue Service. Recent high profile tax evasion cases have helped produce a more stringent environment from the IRS in regards to disclosing sensitive offshore financial information, discussed by Mr. Packman. "We're a long way from the kinder, gentler IRS, and I don't know how long it will take before the fulcrum starts to swing back, if ever," he said.
The article reviews the end of a tax amnesty program for people with secret offshore bank accounts and ways in which they can disclose their account information to the Internal Revenue Service. Recent high profile tax evasion cases have helped produce a more stringent environment from the IRS in regards to disclosing sensitive offshore financial information, discussed by Mr. Packman. "We're a long way from the kinder, gentler IRS, and I don't know how long it will take before the fulcrum starts to swing back, if ever," he said.