Using The OVDP: What Are Your Options?
The IRS has released changed to its Offshore Voluntary Disclosure Program (OVDP) encouraging a broader group of U.S. taxpayers to come into compliance. The streamlined procedures allow for those who were non-willful in their non-compliance to pay a lesser miscellaneous penalty. But, is this the best option? ...
Streamlined Penalties – a good thing!
Knowing the penalty structure for the newly modified IRS programs can make choosing your best option even easier. Jeffrey S. Freeman, J.D., LL.M Changes to the Offshore Voluntary Disclosure Program (OVDP) and Streamlined Compliance Procedures may have you second guessing your decision to participate in the OVDP. You have the option to stay in the OVDP, but you may also be able to take advantage of benefits...
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