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IRS Announces Another Offshore Voluntary Disclosure Program

The IRS seems to have taken a nod from the legendary Yankee backstop, Yogi Berra, because "it's déjà vu all over again." On January 9, 2012, the IRS announced that it was "reopening" the Offshore Voluntary Disclosure Program (OVDP) for an indefinite period. This...

National Taxpayer Advocate Report Critical of IRS Implementation of Offshore Voluntary Disclosure Programs

The National Taxpayer Advocate who has intervened for participants in OVDP and perhaps OVDI as well has issued her annual report to Congress. The web page with links to components of the report is here . Among the items discussed are the problems she and her staff perceive with respect to the IRS's...

National Taxpayer Advocate Report Critical of IRS Implementation of Offshore Voluntary Disclosure Programs

The National Taxpayer Advocate who has intervened for participants in OVDP and perhaps OVDI as well has issued her annual report to Congress. The web page with links to components of the report is here . Among the items discussed are the problems she and her staff perceive with respect to the IRS's...

Filing Compliance Procedures Challenge U.S. Taxpayers Residing Overseas

Generally, [the 2012 Offshore Voluntary Disclosure Program] OVDP is designed for those delinquent U.S. taxpayers who have been holding financial assets overseas, have not been disclosing such assets to the U.S. government, have not been reporting the income produced from such assets, and...