Zollikon/Zurich – The U.S. Internal Revenue Service has for the last time extended the deadline for voluntary disclosure of untaxed assets until October 15th, 2009. The extension is apparently due to numerous requests from tax advisors and attorneys who need more time to process their cases. The IRS itself has not disclosed any information on the number of voluntary disclosures so far. According to press reports, several thousand US taxpayers have taken advantage of the special conditions offered by the voluntary disclosure program since the beginning of the amnesty period in March 2009. US taxpayers who voluntarily initiate the IRS voluntary disclosure process by October 15th, 2009 can substantially reduce or even completely eliminate the risk of criminal prosecution relating to tax offenses.
"We definitely advise US taxpayers and their advisors to take advantage of this deadline," says Michel Guignard, Managing Director of Kaiser Ritter Partner Financial Services Ltd. based in Zollikon/Zurich, which specializes in advice and services for US clients. "Tax compliance is an essential precondition for the long-term planning, structuring, and investment of assets – both for today and for the next generation. Kaiser Ritter Partner offers outstanding solutions for accompanying a US voluntary disclosure, but also for long-term and sustainable wealth planning after conclusion of such a process," explains Mr. Guignard.
"Swiss attorneys, wealth managers, and banks with US clients mainly benefit from cooperation with us by reducing their personal liability risks. For US clients themselves, the benefits include aspects of long-term asset structuring and succession planning as well as diversification possibilities outside the United States," says Mr. Guignard of the advantages of working together with Kaiser Ritter Partner Financial Advisors.
Additional information is available at http://www.voluntary-
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