IRS announces end to Offshore Voluntary Disclosure Program

July 5, 2018

 

The Offshore Voluntary Disclosure Program (OVDP) launched in 2009 is officially ending on September 28, 2018. The program has enabled U.S. tax payers to voluntarily resolve past non-compliance related to unreported foreign financial assets. A separate program, the Streamlined Filing Compliance Procedures for tax payers will remain in place and is available for eligible taxpayers. Please see the following links to the IRS website for further information:

 

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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