Underreporting or underpaying your federal tax obligations can have serious consequences. So can failing to disclose your offshore accounts or other foreign financial assets to the federal government. The consequences of these violations can be even more serious if you committed them willfully. In this scenario, submitting a voluntary disclosure could be your best option—but it is critical to ensure that you make an informed decision. Learn more from New York tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group: