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”). We thought it would be useful to have a side-by-side comparison of Frequently Asked Questions (FAQ) under the 2012 IRS Offshore Voluntary Disclosure Program (“OVDP”) and the…
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…
Welcome to our Blog. Here, we will share our ideas and hope to establish a powerful and provocative exchange of view on current U.S. and cross-border tax developments and issues.
The clock is ticking and hiding from IRS continues to be more complicated than ever. Delinquent U.S. taxpayers are being flagged by the Department of Homeland Security when crossing the U.S. border and face potential detention, questioning, embarrassment, and other follow-up actions from the IRS.
