REPORTING UNDISCLOSED FOREIGN ASSETS

NSTPInternal Revenue Service (IRS), IRS Commissioner, IRS Forms, Uncategorized

On March 13, the IRS announced that it will close the Offshore Voluntary Disclosure Program (OVDP), effective September 28, 2018. In the announcement, the IRS encouraged taxpayers who need to disclose noncompliant and unreported foreign accounts and assets to come forward before the September deadline.