Foreign Accounts Compliance Update

Posted on: September 2, 2019 | By: Stephen Dunn | Delinquent International Information Return Submission Procedures, Foreign Accounts Compliance, International Information Returns, Voluntary Disclosure Practice (VDP)

The first thing a taxpayer should do who is out of compliance with United States laws concerning foreign financial accounts is immediately file delinquent FinCEN Forms 114, Report...

VDP—IRS’ Updated Voluntary Disclosure Practice

Posted on: July 22, 2019 | By: Stephen Dunn | Paths to Compliance, Uncategorized, Voluntary Disclosure Practice (VDP)

The Internal Revenue Service ended its Offshore Voluntary Disclosure Program (“OVDP”) effective September 28, 2018. Since then the IRS has made its Voluntary Disclosure Practice (“VDP”) available to...