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Time is Running Out: OVDP Ends September 2018

News, Offshore Updates

Posted in on August 13, 2018

The IRS’ Offshore Voluntary Disclosure Program is in its final days. Taxpayers with offshore accounts only have a little over a month to take advantage of the OVDP program. Those with accounts overseas or international assets should seriously consider whether or not the Offshore Voluntary Disclosure Program could be an option for coming into compliance with the Internal Revenue Service. Do not make this decision without consulting a trained tax professional, such as former IRS attorney Kevin E. Thorn. Call him (202-349-4033) or email (ket@thornlawgroup.com) today. Noncompliant individuals can face massive penalties and possible incarceration. The risk is higher than ever if you do not come forward!

The Offshore Voluntary Disclosure Program is Ending September 28th

According to the IRS’ website, “Complete offshore voluntary disclosures conforming to the requirements of 2014 OVDP FAQ 24 must be received or postmarked by September 28, 2018 and may not be partial, incomplete, or placeholder submissions.” In other words, all submissions to OVDP must be sent in and complete by this date. Failure to do so will result in exclusion from the Offshore Voluntary Disclosure Program with no exceptions!

Not sure if the IRS’ Offshore Voluntary Disclosure Program is right for you? The experienced tax attorneys at Thorn Law Group can help. Contact managing partner Kevin E. Thorn via email at ket@thornlawgroup.com or call him at 202-349-4033 today to start resolving your complicated international tax matter today. Having helped hundreds of clients disclose offshore assets over the last 10 years, he can advise you on how to proceed with dealing with your own undisclosed offshore accounts. Time is running out and the stakes are at an all-time high, with possible incarceration and massive penalties resulting from noncompliance.

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