The Internal Revenue Service is winding down its program to entice wealthy Americans who hid money abroad to come forward and take an amnesty deal—but if you’re a tax evader, or simply clueless, don’t think you’ve been spared.
The Internal Revenue Service said Tuesday it plans to close the 2014 Offshore Voluntary Disclosure Program on Sept. 28, 2018 and will start winding it down before that date.
HSBC Holdings Plc said it could face penalties exceeding $1.5 billion stemming from multiple investigations into claims that its Swiss private bank unit helped clients evade paying taxes.