Month: January 2012

New Foreign Financial Asset Reporting Requirements

The IRS reopened the Offshore Voluntary Disclosure Program (OVDP) on January 9, 2012 following continued strong interest from taxpayers and tax practitioners after the closure of the 2011 and 2009 programs. The third offshore program will be open for an indefinite period until otherwise announced. The program’s objective is to bring taxpayers that have used… View Article