Kevin E. Thorn, Managing Partner of Thorn Law Group discusses the recent penalty on an 87- year-old Florida man for not filing his FBARs on time and the effect that this 150% penalty may have on the U.S. taxpayer who still may have undisclosed offshore accounts at foreign banks.

Kevin E. Thorn, Managing Partner of the Thorn Law Group, discusses the current plea agreement between Credit Suisse and the Department of Justice (DOJ) as well as the effect that this settlement may have on the rest of the foreign banking community and U.S. Taxpayers who still may have undisclosed offshore accounts at foreign banks.

Kevin E. Thorn, Managing Partner of the Thorn Law Group discusses the recent negotiations between the U.S. Department of Justice and Swiss bank Credit Suisse and the effect that any potential settlement may have on the rest of the banking community and the U.S. Taxpayers who still may have undisclosed offshore accounts at foreign banks.

Kevin E. Thorn of the Thorn Law Group warns that U.S. Taxpayers with undisclosed overseas bank accounts should come forward now before the Swiss bankers who helped them hide their undisclosed accounts are extradited to the United States and give them up in exchange for reduced penalties or sentences. Thorn asks, “Do you trust that the Swiss banker who helped you hide your funds will remain silent about you and your undisclosed offshore accounts?”

Kevin Thorn of the Thorn Law Group remarks on the February 26, 2014 U.S. Senate hearing in which the U.S. Congress, after discussions with Executives at Credit Suisse, urged the Department of Justice to use all of its power to go after U.S. Taxpayers with undisclosed overseas bank accounts. Thorn adds, “It is becoming more and more urgent for U.S. citizens with hidden overseas bank accounts to come forward and file IRS Voluntary Disclosures.”