Are you considering  — but unsure — if you should enter the 2012 voluntary disclosure program? If you can’t figure out what to do…start by watching this video.

If you’re a U.S. citizen, or if you have permanent residence status (a ‘green card’), you are required to declare any income earned in the U.S. or abroad on your annual IRS tax filing. This includes investment income, bank account interest, and any other asset that generates income. If you don’t declare it, you can be prosecuted for federal tax evasion – a felony – which is subject to fines, penalties and jail time. Also, you could be putting your immigration status at risk.

We want our clients to make the most informed decision when they are presented with uncomfortable facts in this highly-aggressive enforcement climate. We’ve helped clients understand how to weigh advantages and calculate risks when confronted with other choices such as “quiet” or “soft” disclosure and expatriation, along with the risk of doing nothing.