The IRS has collected $10 billion in taxes from American citizen’s foreign assets.

The foreign asset disclosure program is only two years old but the IRS has received disclosures (voluntary and non-voluntary) from 100,000 taxpayers who have disclosed and filed tax returns for prior periods paying $10 billion in taxes to the IRS. 

The IRS continues to expand its reach to foreign countries looking for USA citizens foreign assets not yet disclosed to the IRS. Do you want to take the chance and not disclose?