What’s Next for Offshore Accounts? From Wall Street Journal – Dec. 10, 2011

The IRS Is Ramping Up Efforts to Flush Out Taxpayers Hiding Money Abroad, Even as New Opportunities Are Emerging to Move Money Offshore Legally.

…New rules affecting 2011 tax returns require taxpayers with assets held offshore to make extensive disclosures to the Internal Revenue Service or risk harsh penalties. The goal: to ferret out secret accounts used to skirt U.S. taxes …