IRS Offshore Voluntary Disclosure Program (OVDP)

January 28, 2019Alerts

Following the termination last fall of its immensely successful Offshore Voluntary Disclosure Program (OVDP), the Internal Revenue
Continue Reading The New IRS Voluntary Disclosure Regime: Worth the Price of Admission?

Today the Internal Revenue Service released its long-awaited updated procedures for voluntary disclosures now that the much-heralded Offshore Voluntary Disclosure Program (OVDP) closed on September 28, 2018. The updated procedures
Continue Reading IRS Unveils Post-OVDP Voluntary Disclosure Procedures

August 29, 2017Law360

Continue Reading DOJ Offshore Bank Resolution Offers Cooperation Road Map

The Justice Department revealed its latest offshore bank resolution by announcing that it had entered into a non-prosecution agreement with a Swiss asset management firm called Prime Partners. This means

Continue Reading Justice Department’s Latest Offshore Bank Resolution Confirms Value of Self-Disclosure and Voluntary Remediation by At-Risk Foreign Institutions

Today the Justice Department’s Tax Division announced that it has reached final resolutions with the remaining “Category 3 and 4” Swiss banks who had enrolled in the Swiss Bank Program
Continue Reading DOJ Announces Final Resolutions Under Its Groundbreaking Swiss Bank Program As Program Enters “Legacy” Phase

Effective today, 47 new names have been added to the Internal Revenue Service’s ever-expanding list of “Foreign Financial Institutions or Facilitators” which trigger a significantly higher penalty for
Continue Reading IRS Adds Nearly 50 New Names to OVDP Facilitator List, Effective November 15

The Internal Revenue Service has achieved another milestone in its long-running campaign to crack down on offshore tax evasion, announcing that more than 100,000 taxpayers have voluntarily returned to compliance
Continue Reading Internal Revenue Service Announces Major Milestone in Offshore Tax Crackdown