Category Archives: OVDI / OVDP

What’s next for voluntary disclosure?

Now that the voluntary disclosure programs (OVDI / VDP) have ended, tax professionals are wondering what’s going to happen next. With OVDI participants facing stiff penalties, the IRS must either increase penalties for voluntary disclosers going forward or risk angering … Continue reading

Posted in OVDI / OVDP | Tagged , , , , | 4 Comments

New TAS report condemns IRS conduct on OVDP

The Taxpayer Advocate Service (TAS) is, according to its tagline, “your voice at the IRS.” It’s a government body tasked with ensuring fairness and proper conduct from the Internal Revenue Service.

Posted in OVDI / OVDP | Tagged , , , | 2 Comments

Yet another article demonizes those trapped in the FATCA nightmare

David Voreacos has written an article hailing the success of the IRS’s charges against banks like UBS (which has made it nearly impossible for expats living in Switzerland to find banks willing accept them as customers).

Posted in FATCA, OVDI / OVDP | Tagged , , , | 4 Comments

TIGTA report finds IRS’s voluntary disclosure practices “effective”

A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that nearly half of their absurdly small sample size of closed cases were improperly transcribed, and the review itself suffered from several fatal flaws. Despite this, TIGTA … Continue reading

Posted in OVDI / OVDP | Tagged , , , , | 1 Comment

The OVDP/OVDI “scam” and how a rational country might have handled the program

To bring people back into compliance, the IRS instituted the Overseas Voluntary Disclosure Program (OVDP) in 2009, a program that the American Citizens Abroad (ACA) has termed a “scam.”

Posted in FBAR, OVDI / OVDP, US Taxes | Tagged , , , , | Leave a comment