Published: Feb 08, 2011 8:26 PM EST
Updated: Feb 08, 2011 5:27 PM EST

WASHINGTON (AP) - International tax evaders who come clean will be able to avoid jail and pay reduced fines under a new voluntary disclosure program just announced by the IRS.

Tax cheats will get until Aug. 31 to settle with the IRS or face an ongoing crackdown against Americans who hide assets overseas.