Rescued From the Brink of Insanity: Practical and Sound Advice for Making the Decision to Opt Out of the OVDI — Part II
Hypotheticals Demonstrating When Opting Out is Detrimental To the Taxpayer Under what circumstances might opting out of the OVDI be detrimental for the taxpayer? Below are two examples. Example 3: Large Unreported Gain Kevin is a U.S. citizen. In 2008, he opened a checking account in Country A with funds upon which U.S. taxes were […]
Rescued From the Brink of Insanity: Practical and Sound Advice for Making the Decision to Opt Out of the OVDI — Part I
While reading can aid in learning, there is no substitute for doing. Reading about what steps to take to solve a tax problem is no different than reading about how to ride a bicycle. In the same way that the only way to learn how to ride a bicycle is by experiencing it firsthand – i.e., […]