Goldtop, You are quite diplomatic ("imprecise"), but I will stick to "flat-out wrong." (See the example I cited above; however you might try to make that statement more precise, it is still completely wrong.)

No, that is not US law. US taxpayers are required to report taxable income, in some instances to report non-taxable income, and in some instances to report foreign bank accounts and shareholdings (but only when those exceed a specified threshold). That has been true for many, many years.

However, there is no US law or regulation that requires a citizen to report "all global assets" or "investments in any company." (If you can find anyone who disagrees with the preceding sentence, please ask them to cite the law or regulation.)

Respectfully, I disagree with both sentences. First, there is nothing on this earth "new" about the IRS' determination to enforce tax laws. I can understand the motive of attorneys seeking new clients to hint at urgency, but the simple fact is that neither US tax law nor IRS policy has changed substantially over the past few years. The news media's attention has changed, for sure, but the underlying reality has not. On the second sentence, the IRS has long had a "voluntary disclosure" policy which is a de facto amnesty, and it continues after the current "amnesty" expires.