Offshore Voluntary Disclosure Program (OVDP) to Remain Open

The IRS recently stated that it intends to keep the OVDP (Offshore Voluntary Disclosure Program) open indefinitely until it announces otherwise. The OVDP was restarted in 2012 after earlier time-limited programs had closed. The IRS reiterated its commitment to pursuing taxpayers who hide assets overseas all over the world. The focus of the program is on taxpayers holding assets offshore.

For more information, please read the referenced article or contact Patrick Mutchler at 231-726-5860 or pmutchler@brickleydelong.com.