September 17, 2019

September 16, 2019

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OVDP Ending September 28: Now Is the Time to Disclose

Earlier this year, the Internal Revenue Service (IRS) announced the ending of the 2014 Offshore Voluntary Disclosure Program (OVDP), its formal amnesty program for taxpayers with previously undisclosed interests in foreign assets and financial accounts. The program deadline is September 28, 2018, and all submissions must be substantially completed by that deadline. Partial or “placeholder” submissions will not qualify. All requests for preclearance into the program must be submitted by Friday, August 24, 2018.

A number of other disclosure options will remain available after September 28, 2018, including the popular IRS streamlined compliance procedures. 

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About this Author

Laura L. Gavioli, P.C., McDermott Will Emery

Laura L. Gavioli, P.C. is a partner in the law firm of McDermott Will & Emery LLP and is based in the Firm’s Dallas office. Laura is a member of McDermott’s U.S. and International Tax Practice Group. She specializes in handling complex civil tax audits, administrative appeals, and litigation. Laura is comfortable and seasoned in the court room, having litigated numerous civil tax cases in U.S. Tax Court and federal district court venues around the country.

Her experience includes significant taxpayer victories in civil tax cases in U.S. Tax...

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