• Last Chance to Voluntarily Disclose Unreported Foreign Accounts to IRS Under Offshore Voluntary Disclosure Program
  • April 2, 2018 | Author: Jo Ann Gambale
  • Law Firm: Greenbaum, Rowe, Smith & Davis LLP - Woodbridge Office
  • The window of opportunity to come forward and voluntarily disclose to the IRS any unreported foreign bank accounts (thereby avoiding higher penalties and potential criminal charges if the IRS were to discover the accounts otherwise) is rapidly closing. The IRS announced on March 13, 2018 that the Offshore Voluntary Disclosure Program will be shut down permanently on September 28, 2018.