The IRS Offshore Voluntary Disclosure Program (OVDP) allows taxpayers the opportunity to come forward and disclose offshore accounts that they may not have previously reported to the Internal Revenue Service as required. Those who come forward may avoid criminal prosecution and avoid the harsh penalties that they could otherwise face if the government discovers the account before a disclosure is made.
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Category: Offshore Account Update - Page 36
Offshore Voluntary Disclosure Program Explained by Washington DC IRS Voluntary Disclosure Attorney – Kevin Thorn
Hot Topics, News, Offshore Account UpdatePosted in on June 24, 2014
IRS Announces Major Changes to its Amnesty Program: Last Chance For U.S. Taxpayers to Voluntarily Declare Undisclosed Overseas Accounts
Offshore Account Update, Press ReleasesPosted in on June 20, 2014
Kevin E. Thorn, Managing Partner of Thorn Law Group, discusses the new 2014 IRS Amnesty Program and the impact that the new requirements may have on U.S. taxpayers who have undisclosed overseas accounts.
Read MoreAmerican Taxpayers With Undisclosed Overseas Accounts May Soon Have Information Given To The U.S. Government, Because Credit Suisse Has Agreed To Pay 2.6 Billion Dollars In Fines To the U.S. Government
News, Offshore Account UpdatePosted in on May 21, 2014
Because of this landmark case, other foreign banks may now enter into plea agreements with the U.S. Government.
Read MoreIt Is Believed That Credit Suisse May Soon Reach a Deal With the Justice Department, That Will Turn Over U.S. Taxpayer‘s Undisclosed Account Information
News, Offshore Account UpdatePosted in on May 9, 2014
Disclosure to the IRS through the IRS Amnesty Program must occur before the U.S. Taxpayer is contacted by the IRS.
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