US citizens around the world are scrambling for tax advice ahead of a filing deadline, fearful that they may face prosecution after the US government’s crackdown on undeclared offshore assets.
Lawyers and tax advisers from London to Hong Kong have had a surge in inquiries from expatriate Americans worried about whether they have correctly declared offshore assets ahead of the September 23 deadline.
Darlene Hart, chief executive of US Tax & Financial Services, an advisory firm in London and Switzerland, said: “My phone is ringing off the hook.
“There is a tremendous amount of interest.”
She said inquiries had increased 10-fold since the UBS settlement last month.
