Today one of our accountants announced that IRS extended the deadline for the previously reported Voluntary Offshore Disclosure from September 23, 2009 to October 15, 2009, in order to “provide relief for those taxpayers who had intended to come forward prior to the deadline, but faced logistical and administrative challenges in meeting it.”
The extension will allow tax advisers and attorneys the necessary time to interview and advise their backlog of taxpayers with hidden offshore accounts, and prepare the necessary paperwork to qualify for the special penalty provisions.
So if you’ve been working in Mexico without reporting your income, or have unreported bank accounts, or did not file your forms relating to a Fideicomiso or other trust, you have a few more days to get that done.