The Offshore Voluntary Disclosure Program (OVDP) 

is part of a IRS increasing effort to stop offshore tax evasion and guarantee tax compliance. U.S. taxpayers who have undisclosed offshore accounts or assets and qualify to certain IRS OVDP requirement are eligible to apply for IRS Criminal Investigation’s 2012 OVDP and penalty system. Individual U.S. taxpayers as well as entities (such as corporations, partnerships and trusts) are eligible to make voluntary disclosure, assuming all other eligibility requirements are met.

The IRS has aggressively increased their enforcement, criminal prosecution and implementation reporting through the Foreign Account Tax Compliance Act. The IRS also eliminated all loophole that’s been used by some taxpayers with offshore accounts. If a taxpayer challenges in a foreign court the disclosure of tax information by that government, the taxpayer is required to notify the U.S. Justice Department of the Appeal and would most likely need professional representation. The 2012 OVDP has exceeded collected $5 billion mark last January 2012 and has even tighten the eligibility requirement. Having professional OVDP tax attorney presentation is highly recommended for a successful settlement.


With new tax treaties being developed at a increasing rate, more countries will be cooperating with the US to go after tax evading U.S. citizens. The IRS also put taxpayers on notice that their eligibility for OVDP could be terminated once the IRS has taken legal action that increases the risk of criminal prosecution if not addressed timely.

 Call now for your FREE no obligation OVDP Tax Resolution Analysis at (800) 505-4134.