Legal Alerts/Details

IRS Amends Program for Offshore Voluntary Disclosures

February 7, 2019
Footnotes:
  1. The new guidelines can be found here: https://www.irs.gov/pub/spder/lbi-09-1118-014.pdf. The penalty under the 2014 OVDP, not including other potential civil penalties, was 27.5 percent of the highest aggregate balance of the unreported foreign financial assets.

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