The Last, Best Chance to Disclose Foreign Financial Accounts and Assets - The 2011 Offshore Voluntary Disclosure Program and Beyond!

Journal of Tax Practice & Procedure, p. 33, February-March 2011

18 Pages Posted: 2 Jul 2011

See all articles by Charles P. Rettig

Charles P. Rettig

Hochman, Salkin, Rettig, Toscher & Perez, P.C.

Kathryn Keneally

affiliation not provided to SSRN

Date Written: March 2, 2011

Abstract

Analysis of the current state of the timely, voluntary disclosure of previously undeclared foreign financial accounts and assets. The voluntary disclosure programs offer reduced income tax and foreign account reporting penalties in exchange for taxpayers voluntarily coming into compliance before the IRS is aware of their prior tax and financial account reporting indiscretions.

Keywords: FBAR, OVDI, IRS, foreign account, UBS, OVDP

Suggested Citation

Rettig, Charles P. and Keneally, Kathryn, The Last, Best Chance to Disclose Foreign Financial Accounts and Assets - The 2011 Offshore Voluntary Disclosure Program and Beyond! (March 2, 2011). Journal of Tax Practice & Procedure, p. 33, February-March 2011, Available at SSRN: https://ssrn.com/abstract=1877269

Charles P. Rettig (Contact Author)

Hochman, Salkin, Rettig, Toscher & Perez, P.C. ( email )

9150 Wilshire Blvd., Suite 300
Beverly Hills, CA 90212
United States

Kathryn Keneally

affiliation not provided to SSRN ( email )

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