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2014 – New IRS Offshore Voluntary Disclosure Program (OVDP), Amnesty, and Streamlined Compliance Filing Procedures

On June 18, 2014, the IRS announced a new sweeping and revised Offshore Voluntary Disclosure Program, as well as the new “Streamlined Compliance Filing Procedures.”  We have recently blogged on these updated changes as follows: IRS announces changes to offshore account compliance program; IRS FAQs clarify changes to offshore voluntary disclosure program and transition rules; and OVDP & New Streamlined Compliance Filing Procedures: July 1, 2014 Deadline — Traps for the Unwary & Questions Remain.

We have previously blogged on the “old” or “former” OVDP over the past few years, as set forth below.  To a great extent, those rules, concerns and questions are still with us in the new June 2014 era.  Here are some of the prior blog articles:

1. 2014: Here We Go Again — IRS Announces Third Offshore Voluntary Disclosure Program

2. 2014: IRS Voluntary Disclosure – To Participate or Not Participate, That is the Question: Options for Taxpayers Contemplating the Program

3. 2014: IRS and DOJ Alert: Will the New IRS Offshore Voluntary Disclosure Initiative Be Fair?

4. 2014: IRS Voluntary Disclosure – Option #2 – Participate “Somewhat” But Not Completely: Options for Taxpayers Contemplating the Program

5. 2014: The IRS’s Offshore Voluntary Disclosure Programs Discourage Voluntary Compliance by Those Who Inadvertently Failed to Report Foreign Accounts

6. 2014: IRS Warns Taxpayers Voluntarily Coming Into Offshore Compliance To Be Truthful

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney