U.S. Citizens and Green Card Holders Residing Outside the United States: Options to Become Tax Compliant

By Alexey Manasuev On June 18, 2014, the IRS released significant changes to its Offshore Voluntary Disclosure Program (“OVDP”) and enhancements to the Streamlined Filing Compliance Procedures (“SFCP”). For the first time since the IRS released in 2009 its OVDP initiative, the IRS clarified options to become tax compliant for U.S. taxpayers with undisclosed foreign…


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