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
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: 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
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