Legal
Failure to Disclose Offshore Accounts Could Cost U.S. Taxpayers 50% of Their Accounts' Value
The Internal Revenue Service (IRS) announced a big change to its Offshore Voluntary Disclosure Program (OVDP). Starting August 4, 2014, taxpayers who come forward in the OVDP to disclose foreign accounts at banks that are publicly known to be under criminal investigation by the will face a penalty equal to…
Continue Reading
Subscribe to unlock the full article and access premium financial content.