[Kurn]

Last comment: If the shit ever hits the fan, don't think pleading ignorance will get you off the hook, because it won't.

One comment on this so we don't scare too many people. Unless you either fail to report a large sum of income (I won't even claim to know the threshhold), or you try to dodge it once they catch you, the IRS will usually just send you a bill and give you payment terms if you can't pay all at once. However, this presupposes that you haven't repatriated the funds in such a way that makes it look like an obvious attempt to hide the income from the start. That's called "structuring" and is treated much more harshly than straight out non-payment.