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Offshore Voluntary Compliance Program Ends September 28, 2018.


The IRS is discontinuing the 2014 Offshore Voluntary Disclosure Program (OVDP) effective September 28, 2018. U.S. taxpayers with undisclosed foreign financial assets are encouraged to apply before the program ends. The OVDP program allows U.S. taxpayers to voluntarily resolve past non-compliance related to unreported foreign financial assets and failure to file foreign returns/forms.   Important to…