(September 22, 2009) - On September 21, the Internal Revenue Service announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now have until October 15, 2009.

The deadline was originally September 23, 2009, under special provisions that were issued back in March. The IRS also announced that there would be no further extensions.

The IRS decided to extend the deadline after receiving repeated requests from tax practitioners and attorneys around the country who received an influx of taxpayer requests. By extending the deadline, the IRS is providing relief for taxpayers who faced logistical and administrative challenges in meeting the deadline, despite their intentions to come forward.

For additional information, please contact Greg Dickey, Tax Partner, at 303.298.9600 or gdickey@heincpa.com.

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