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The IRS has so far conducted two voluntary disclosure programs in order to recoup tax money from offshore financial accounts that has been unpaid. As a result, the agency collected about nearly $3 billion in taxes, interest and penalties from 30,000 taxpayers that participated in the disclosure programs as of September 2010. If you have an offshore bank account in which you hide taxable income, beware because the law is fast catching up with you.

In the past, many people hide their income in Swiss bank accounts because of the Swiss banking laws that allow secrecy.

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Every year, the IRS initiates programs to assist people who require help in preparing their tax submissions. The Volunteer Income Tax Assistance (VITA) and the Tax Counseling for the Elderly (TCE) programs are programs where the IRS solicits help from volunteers who want to learn about taxes and help others by preparing their federal income tax returns.

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