The IRS maintains an Offshore Voluntary Disclosure Program (OVDP) whereby eligible taxpayers can self-declare previously undeclared foreign assets in return for lower penalties.  The more recent âStreamlinedâ procedures allow for even lower or no penalties â provided that the taxpayerâs past non-compliance was ânon-willfulâ.  In this webinar, youâll learn about the considerations around the OVDP and the recent Streamlined Procedures.  Upon completion of the course, youâll be able to:
- Explain the difference between the OVDP and the Streamlined Procedures in reporting foreign assets to the IRS
- List the eligibility requirements for the Streamlined Procedures
- Explain the difference between the Streamlined Domestic Offshore Procedures (SDOP) and the Streamlined Foreign Offshore Procedures (SFOP)
- Discuss the critical concept of ânon-willfulnessâ
- List the risks involved in the Streamlined Procedures
- Describe the requirements of the Streamlined Procedures and how to make a successful Streamlined submission.
The live webinar was held on Monday, July 17, 2017.
For more information, please click here.