If you currently have undisclosed offshore accounts you only have a short time frame left to enter the program for reduced penalties. The current deadline for volunteering to enter the Offshore Voluntary Disclosure Initiative program with reduced penalties and possible … Continue reading
Posted in Foreign Asset Disclosure, Foreign bank Account, News, OVDI
Tagged assets, clients, FBAR, filing dates, foreign bank accounts, offshore, OVDI, taxes
On August 31, 2009, the Department of the Treasury and the IRS published Notice 2009-62, which, in part, extended the filing deadline for persons with no financial interest in a foreign financial account but with signature authority over that account … Continue reading
The IRS, February 8, 2011, announced a new 2011 Voluntary Disclosure Initiative (OVDI) for taxpayers to disclose their unreported offshore accounts. To participate in the OVDI, taxpayers must file or amend their tax returns and Form TD F 90-22.1 (Report … Continue reading
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