Tax Law

Recent Posts

National Taxpayer Advocate Report Critical of IRS Implementation of Offshore Voluntary Disclosure Programs
Posted on 12 Jan 2012 by Jack Townsend

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... Read More

IRS Announces Another Offshore Voluntary Disclosure Program
Posted on 10 Jan 2012 by Asbury Law Firm

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... Read More

Article on OVDI and Beyond
Posted on 25 Oct 2011 by Jack Townsend

Scott Michel and Mark Matthews have written a thought-provoking article on the status of the IRS offshore financial account. See Scott D. Michel, OVDI is Over -- What's Next for Voluntary Disclosures ?, 133 Tax Notes 369 (Oct. 17, 2011), here . (The... Read More

IRS Announces Another Offshore Voluntary Disclosure Program
Posted on 10 Jan 2012 by Asbury Law Firm

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... Read More

National Taxpayer Advocate Report Critical of IRS Implementation of Offshore Voluntary Disclosure Programs
Posted on 12 Jan 2012 by Jack Townsend

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... Read More

Foreign Financial Accounts and Assets Reporting and the 2011 OVDI
Posted on 4 Mar 2011 by Neil Aragones

The Service has announced the launch of an initiative to give taxpayers the opportunity to voluntarily disclose previously-undisclosed offshore financial accounts and assets. IR-2011-14 (issued on February 8, 2011) explains that the 2011 Offshore Voluntary... Read More

IRS Offers New Tax Amnesty Program for Offshore Account Holders
Posted on 14 Feb 2011 by Frankfurt Kurnit Klein & Selz

There's important news for people who maintain funds in offshore accounts. The IRS announced this week the 2011 Offshore Voluntary Disclosure Initiative ("OVDI") -- a new program designed to encourage people to bring offshore assets into... Read More