New IRS Offshore Voluntary Disclosure Forms


In past offshore voluntary disclosures initiatives under the famed OVDI program – the IRS has continually adjusted the information it seeks from Taxpayers.

The IRS has just come out with formal IRS Forms to take the place of the Word documents used before.  The new forms are:

Form 14457 – Offshore Voluntary Disclosure Letter

Form 14454 - Offshore Voluntary Disclosure Program Letter Attachment

The information requested in these disclosures is used, in my view,  for three central purposes:

1) Provide information to the IRS regarding the Taxpayer to be able to confirm that the person is eligibile for the program

2) Begin to collect information for the examiner to help guide his/her investigation

3) Collect data for purposes of ensnaring promoters of offshore evasion.

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.

© Gray Reed & McGraw | Attorney Advertising

Written by:


Gray Reed & McGraw on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.