If you are interested in participating in the Offshore Voluntary Disclosure Program (OVDP), you are probably wondering what you’ll need to bring to the table in order to come into compliance with U.S. tax law. Our OVDP lawyers in Bethesda can help you get all of the information you need, since what is required will […]

What’s the Goal of the OVDP? The Offshore Voluntary Disclosure Program (OVDP) allows people to disclose their offshore assets and bring them up to date with the Internal Revenue Service without facing prosecution or additional fines or jail time. It gives taxpayers the chance to disclose their foreign accounts and assets that they may have […]

As of 2012, the IRS has updated their Offshore Voluntary Disclosure Program (OVDP), making the process more efficient and thus encouraging more taxpayers to come forward. Because the old process is still in effect as well, this newer development gives citizens with offshore accounts an option as to how they want to report. Because each […]

The penalties have always been steep for tax evasion in the United States. With the fairly recent Offshore Voluntary Disclosure Program (OVDP) from the IRS, there is an option to reduce penalties by filing for the reporting of offshore accounts. Through the OVDP, taxpayers can find relief from being responsible for the possible prison time […]

Offshore Voluntary Disclosure Program (OVDP, also was called the Offshore Voluntary Disclosure Initiative – OVDI) was established in 2009 in an effort to eliminate tax evasion from those who invest in offshore accounts. While the program has been modified many times since, the effort to investigate all sources of tax evasion will continue. If there […]