News & Articles

IRS Shores Up Its Offshore Voluntary Disclosure Program

Posted on Sat, Jul 05, 2014

The IRS is using both a "carrot" and a "stick" to encourage more taxpayers living overseas and those with undisclosed foreign financial accounts to comply with U.S. tax obligations. The tax agency recently announced immediate changes in its Offshore Voluntary Disclosure Program, which is designed to ease taxpayer burdens as well as expand streamlined procedures for the program.

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Tags: EHTC Article, tax obligation, foreign financial accounts, IRS, Newsletter, Articles, Offshore Voluntary Disclosure Program