Waving Sayonara to OVDP
On March 13, 2018, the Internal Revenue Service revealed that it will begin to wind down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting taxpayers now, the IRS intends that any U.S. taxpayers with undisclosed foreign financial assets have time to use the OVDP before the program closes. […]