Streamline IRS Offshore Voluntary Disclosure Programs (OVDP) – Which Program is right for you?
Amnesty may be available for non-compliance with Foreign Bank Account Reporting and Disclosure to the IRS – Get FBAR Help & IRS OVDP Help Here:
Big Brother is watching in the case of Foreign Bank Account Reporting. This program gives people the chance to come into the IRS before the IRS finds them. In many cases, the IRS is getting help from the overseas banks themselves who engineered the offshore tax evasion practices in the first place!
Take overseas banks like UBS and HSBC, who also depend on their US-granted bank charters to do business here in the USA, and the IRS has the perfect recipe to motivate these foreign banks to cooperate with them in this effort to catch tax evaders or risk being shut down from operating in the USA. Add in the increased capabilities and sophistication that modern computerization allows, and the net needed to be cast by the IRS to catch tax evaders becomes even smaller.
Should you have questions or need Business or Individual Tax Advice, our firm may be contacted at:
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