IRS’s Offshore Voluntary Disclosure Program Ending: Impact on US Taxpayers

On March 13, 2018, the Internal Revenue Service (IRS) announced that it will end the Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018.  The program, initially introduced in 2009, is designed to allow taxpayers with unreported offshore assets to voluntarily resolve past tax and reporting non-compliance in exchange for a promise of no criminal prosecution, and a cap on

FULL ARTICLE https://www.lexology.com/library/detail.aspx?g=c8f4c671-01e8-45d8-9f74-ba7efc707cdc

Tagged:

Comments are closed.