• IRS Announces Offshore Voluntary Disclosure Program Will End September 28, 2018
  • April 18, 2018 | Authors: Lawrence S. Horn; Richard J. Sapinski
  • Law Firm: Sills Cummis & Gross P.C. - Newark Office
  • On March 13, 2018, after over a year of rumors about its demise due to lack of current participation (600 applicants in 2016 vs. 18,000 in 2011), the IRS announced that the 2012 Offshore Voluntary Disclosure Program (OVDP) will end on September 28, 2018. The 2012 OVDP was the latest of three such programs IRS had created since 2009 to allow U.S. Taxpayers with potentially serious offshore compliance issues to both avoid criminal prosecution and cap any civil penalty exposure.