Quiet Disclosure: When a taxpayer is out of compliance for not previously disclosing offshore accounts, assets, investments or income, the IRS deems them out of offshore compliance (aka non-compliant).
These taxpayers may be tempted to gamble their tax future by making a Quiet Disclosure or Silent Disclosure. By making a quiet or silent disclosure, the taxpayer is risking significant fines and penalties, along with a possible criminal investigation and prosecution.
Learn more about the dangers of making a quiet disclosure to the IRS.