Tax,
Government,
Administrative/Regulatory
Mar. 16, 2018
IRS is set to end offshore voluntary disclosure program
The Internal Revenue Service announced this week that it will close the Offshore Voluntary Disclosure Program on Sept. 28, 2018.
Nathan J. Hochman
Partner
Ross LLP
white collar defense, tax
Phone: 424-704-5600
Email: nhochman@rossllp.la
Nathan is the former head of the U.S. Department of Justice's Tax Division, a former assistant U.S. attorney, and deputy chair of Morgan Lewis' White Collar Litigation and Government Investigations practice.
Andrew Allen
Associate
Morgan, Lewis & Bockius LLP
Email: andrew.allen@morganlewis.com
Andrew focuses his practice on complex tax controversy and tax litigation.
The Internal Revenue Service announced this week that it will close the Offshore Voluntary Disclosure Program on Sept. 28, 2018. The OVDP, which has been in effect since March 2009, has allowed U.S. taxpayers with unreported foreign bank accounts and other foreign financial assets to pay reduced monetary penalties, tax and interest owed, and, most importantly, to avoid criminal prosecution. Taxpayers with unreported offshore accounts and assets need to seriously evalu...
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