2011 Offshore Voluntary Disclosure Initiative - August Update!
Mondaq Business Briefing › United States Law Articles in English (2011)
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2011 Offshore Voluntary Disclosure Initiative - August Update!
On February 8, 2011, the IRS Commissioner announced a second offshore voluntary disclosure initiative (the "2011 OVDI") for U.S. taxpayers who still have unreported foreign accounts. The 2011 OVDI largely continues the practices of the 2009 OVDP, but it imposes higher penalties a...
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