Last chance offer for US tax evaders

WASHINGTON – Wealthy tax evaders with assets stashed offshore can come clean with U.S. authorities under a new amnesty program with reduced penalties, the government said yesterday.

“It gives people a chance to come in before we find them,” Internal Revenue Service Commissioner Doug Shulman said.

Under the new program, participants face a 25 percent penalty for the year with the highest balance, compared with the usual penalty of 50 percent.