IRS Voluntary Disclosure (Offshore)

On September 28, 2018, the IRS ended the Offshore Voluntary Disclosure Program (OVDP).  New Voluntary Disclosure Procedures, applicable to both Offshore and Domestic Voluntary Disclosures submitted after September 28, 2018, were announced on November 29, 2018.  Streamlined Procedures” are unaffected by this announcement. 

The dual-licensed tax attorney-CPA’s, tax attorneys and other tax professionals at the law firm of Daniel Rosefelt & Associates, LLC have many years of experience in successfully resolving over a hundred of OVDP cases.   Don’t wait until it is too late.  If you have unre-ported offshore income, bank accounts or other investments contact us today. 

The IRS Voluntary Disclosure Program (formerly the Offshore Voluntary Disclosure Program) is a relief program designed for taxpayers who have willfully failed to file U.S. income tax returns, report offshore income, or report foreign financial assets (such as investments or bank accounts) and pay taxes upon them.  

In practice, Voluntary Disclosure Program is an IRS tax amnesty program that allows taxpayers to get back in the system by providing them with:

  • Protection from criminal liability; and
  • Terms for resolving their civil tax and penalty obligations.

The dual-licensed tax attorney-CPA’s, tax attorneys and other tax professionals at the law firm of Daniel Rosefelt & Associates, LLC regularly advise clients living in the U.S. and abroad about use of Voluntary Disclosure in order to avoid civil and criminal liability.

Problem-Solving Dual-Licensed Tax Attorneys & Certified Public Accountants

Legislation such as the Foreign Account Tax Compliance Act (FATCA) and IRS enforcement priorities mean that taxpayers with foreign bank accounts face increased scrutiny. To avoid significant civil liabilities and possible criminal prosecution, the advice of a skilled team of tax professionals is essential. The Law Firm of Daniel Rosefelt & Associates has significant experience in resolving international tax problems, including the use of Voluntary Disclosures, un-filed tax returns, IRS audits, installment programs, offers in compromise and discharging tax in bankruptcy.

To learn more about the IRS Voluntary Disclosure Program or other options available to you, contact us at (301) 656-4424 or reach out by completing our ten-second contact us form to know your real options.