Offshore Bank Account Warning! They're Not Just For The Wealthy

Jul 16, 2015, 10:50 ET from 1-800-LAW-FIRM, PLLC

SOUTHFIELD, Mich., July 16, 2015 /PRNewswire/ -- Most people think offshore accounts are only for the wealthy but the 1-800-LAW-FIRM Federal Tax Defense Team believes people should think again.  Thousands of people in the United States have foreign bank accounts and believe that just because they are not millionaires, they have no worries.  This is not the case, if you have a foreign bank account and have not reported it to the IRS on a specific FBAR Report, you could be facing prison time.   

Taxpayers with undeclared foreign bank accounts are facing criminal prosecution and fines of up to 50% of their assets.  For a limited time the IRS is offering Amnesty to United States Citizens and Resident Aliens who declare overseas assets.  Prevent criminal prosecution and asset seizure by finding out if you qualify for the IRS Offshore Amnesty program.  Call 1-800-369-2629 to find out if you qualify.  If you have a foreign bank account and fear criminal prosecution you must act quickly before the Amnesty program expires or face fines of up to 50% of their assets and criminal prosecution. 

If the foreign financial institution where the taxpayer has an account had been publicly identified as being under investigation or as cooperating with a government investigation, the taxpayer could be charged a penalty of up to 50 percent of their assets along with prison time.     

Chad Silver, Managing Partner of the 1-800-LAW-FIRM Federal Tax Defense Team implores you to declare your offshore assets before the IRS Offshore Amnesty program ends.  

1-800-LAW-FIRM, PLLC headquartered in Southfield, MI.  Bar certified lawyers are ready to assist you with a wide range of legal issues. The firm is located at 26700 Lahser Road, Suite 400 in Southfield.  Phone 1-800-LAW-FIRM or visit


MEDIA CONTACTS: Mort Meisner Associates for 1-800-LAW-FIRM, PLLC of Southfield, Michigan; Mort Meisner, 248-545-2222 or Wendy Fayne, 248-842-3889