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IRS Ending Offshore Voluntary Disclosure Program (OVDP)

The IRS has recently announced that it will be ending the Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018.  OVDP is one of the programs established by the IRS to allow U.S. taxpayers to resolve lack of compliance with unreported foreign financial accounts and failure to file certain foreign information returns.  This may be of particular interest for U.S. taxpayers with undisclosed foreign financial assets.

The following link is the official IRS Notice: https://www.irs.gov/newsroom/irs-to-end-offshore-voluntary-disclosure-program-taxpayers-with-undisclosed-foreign-assets-urged-to-come-forward-now

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