Review and assessment of your situation
Prepare and submit any required documents, including amended tax returns, FBARs, and application to the OVDP
IRS representation for taxpayers utilizing the Streamlined Program or Delinquent Procedures
Connect you and work with tax attorneys specializing in OVDP if it becomes necessary
File and amend as necessary any state tax returns with the applicable state voluntary disclosure program
How Citrin Cooperman Can Help
If you have overseas brokerage accounts or stock holdings, pensions, retirement accounts, savings accounts — any foreign financial assets or interest other than real estate — in any given year, you may have to disclose those to the Internal Revenue Service (IRS). Failure to do so can result in severe penalties and even criminal prosecution.
Over the years, the IRS has implemented several versions of which is currently known as the Offshore Voluntary Disclosure Program (OVDP), where taxpayers can become compliant with the law, have the possibility of reduced penalties, and not be exposed to the risk of criminal prosecution.
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Our In Focus Resource Center provides insights on real-time, relevant, strategic, and tactical business issues and trends to help keep you in front of what's happening in your industry and the market.
Our Offshore Voluntary Disclosure Specialists are here to help.
Get in touch with a specialist today.