Posts Tagged ‘ovdi’

IRS Extends Offshore Voluntary Disclosure Deadline

Friday, August 26th, 2011

The IRS announced an extension of the deadline for participating in the 2011 Offshore Voluntary Disclosure Initiative due to potential issues from Hurricane Irene:

Due to the potential impact of Hurricane Irene, the IRS has extended the due date for offshore voluntary disclosure initiative requests until September 9, 2011. For those taxpayers who have not yet submitted their request and any documents, the following actions are necessary by September 9, 2011:

Identifying information must be submitted to the Criminal Investigation office. This includes name, address, date of birth, and social security number and as much of the other information requested in the Offshore Voluntary Disclosures Letter as possible. This information must be sent to:

Offshore Voluntary Disclosure Coordinator
600 Arch Street, Room 6404
Philadelphia, PA 19106.

Send a request for a 90-day extension for submitting the complete voluntary disclosure package of information to the Austin campus. This request must be sent to:

Internal Revenue Service
3651 S. I H 35 Stop 4301 AUSC
Austin, TX 78741
ATTN: 2011 Offshore Voluntary Disclosure Initiative

Catching Minnows Instead of Whales

Monday, August 22nd, 2011

I like Joe Kristan’s terminology for the IRS’ efforts going after anyone who hasn’t filed an FBAR…even if they don’t really owe any additional tax: Using a shotgun to get jaywalkers. Of course, that’s all part of the kindler, gentler IRS….

Well, the FBAR and current Offshore Voluntary Disclosure program are getting attention north of the border. Don Cayo of the Vancouver Sun has written two excellent article on the situation: “Americans living in Canada risk facing massive tax penalties” and Ordinary citizens or big banks: the IRS threatens them all.