IRS Has Reopened Its Offshore Voluntary Disclosure Program

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The IRS has announced a third round of Its Offshore Voluntary Disclosure Program (OVDP), allowing tax evaders to voluntary disclose unpaid taxes from offshore accounts and pay penalties in exchange for amnesty.

To participate in the program, participants must file all original and amended tax returns and include payment for back-taxes and interest for up to eight years, as well as applicable penalties...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© CJ (Candida) Griffin, Esq., Pashman Stein, PC | Attorney Advertising

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