Financial Times FT.com

Global financial crisis

IRS extends deadline on offshore accounts

By Joanna Chung in New York and Haig Simonian in Zurich

Published: September 21 2009 18:13 | Last updated: September 21 2009 18:13

US tax authorities have offered a one-time extension for Americans to disclose voluntarily secret offshore accounts at UBS and other banks to avoid possible criminal prosecution.

The extra time from the Internal Revenue Service, the US tax authority, followed requests from US taxpayers and lawyers scrambling to meet Wednesday’s original deadline. Taxpayers will now have until October 15 to come forward.

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