On September 28, the IRS has closed its Offshore Voluntary Disclosure Program (OVDP). The OVDP allows for U.S. taxpayers with willfully undisclosed foreign financial assets to voluntarily report them so

Recently, the IRS relaxed the requirements for compliance and significantly reduced the penalty for eligible taxpayers who non-willfully failed to disclose otherwise reportable foreign financial

The Offshore Voluntary Disclosure Program (OVDP) is a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due