Participants in the Internal Revenue Service’s Offshore Voluntary Disclosure Program were more likely to disclose foreign bank accounts from Switzerland than other countries, according to a new government report.
The report, from the Government Accountability Office, found there were 12,889 Report of Foreign Bank and Financial Account forms, also known as FBARs, filed for 2008 by participants in the IRS’s 2009 Offshore Voluntary Disclosure Program, which particularly targeted secret Swiss bank accounts, the GAO noted. Next in line after Switzerland was the United Kingdom. Of the states where taxpayers participated in the Offshore Voluntary Disclosure Program, California was in first place in having the most participants, followed by New York State and then Florida.
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