The IRS finally got around to releasing the guidelines for the 2012 Offshore Disclosure Program. IRS Says Offshore Effort Tops $5 Billion, Announces New Details on the Voluntary Disclosure Program and Closing of Offshore Loophole WASHINGTON — The Internal Revenue Service today announced that its offshore voluntary disclosure programs have exceeded the $5 billion mark … Continue reading 2012 OVDP Guidelines
This post updates and rehashes my earlier post on the 2011 Offshore Voluntary Disclosure “Initiative.” The initiative is now a “Program” with no stated deadline. As of this date, the IRS has not yet published the official guidelines for the program other than to inform us that the OVDP penalty for failure to disclose offshore accounts … Continue reading Should I Participate in The Offshore Voluntary Disclosure Program (OVDP)?