Tag Archives: OFFSHORE VOLUNTARY DISCLOSURE PROGRAM

OFFSHORE VOLUNTARY DISCLOSURE PROGRAM (OVDP): STRICT APPLICATION OF 50% PENALTY CAN BE HARSH

Posted on February 15, 2015 by taxpenaltylawyer

Consider the following fact pattern: Father and daughter are participants in the OVDP who submitted their OVDP Letters after August 4, 2014.   Each owned separate unreported offshore bank accounts during the OVDP period 2006 through 2013. The father’s account was … Continue reading →

Posted in 214 OVDP, NEW OVDP, OFFSHORE BANK ACCOUNTS | Tagged , , , , , | Leave a comment

THE WRONG QUESTION TO ASK ABOUT OFFSHORE ACCOUNTS: WHAT ARE THE ODDS OF BEING CAUGHT?

Posted on October 25, 2013 by taxpenaltylawyer

In my post of July 14, 2013, “OVDP or Nothing At All,” I wrote: I believe the wiser approach for most is still to seek the shelter of certainty by entering the OVDP  (IRS 2012 OFFSHORE VOLUNTARY DISCLOSURE PROGRAM). I … Continue reading →

Posted in 2012 OVDP, TAX | Tagged , , , , , , , | 4 Comments