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Offshore Banking News

Inbox Robot: Offshore Banking News

Offshore Bank Account

Friday, April 3, 2009

Clock ticking for people hiding money in off-shore bank accounts

Time is running out for tens of thousands of wealthy taxpayers--including many from New Jersey--who thought they could safely hide their money in off-shore banks.

"It's time to come in from the cold," says Larry Horn, a lawyer specializing in tax issues with the Newark firm of Sills Cummis & Gross. "Taxpayers who voluntarily turn themselves in now will likely escape criminal prosecution."