New Offshore Voluntary Disclosure Program for 2012

By Julia Thomas | January 10, 2012

Yesterday, the IRS started the Offshore Voluntary Disclosure Program (2012 OVDP), which is a modified continuation of the 2011 Offshore Voluntary Disclosure Initiative (2011 OVDI).  The IRS will also release a new FAQ and provide additional details of 2012 OVDP on its website in the coming months. 2012 OVDP comes on the heels of last…

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Offshore Voluntary Disclosure Initiative

By Julia Thomas | June 27, 2011

On April 11, we summarized the 2011 Offshore Voluntary Disclosure Initiative (OVDI). Last week, the Internal Revenue Service updated its online FAQ, which provided several changes or expansions to the program. First, in limited situations, the IRS will consider up to a 90-day extension to enter the program upon a taxpayer’s request and a good…

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