American Expat: Don’t Ignore Bank’s “Know Your Customer FATCA Letter”

American Expat:  Don’t Ignore Bank’s “Know Your Customer FATCA Letter” Whether you are one of the many Americans living overseas or happen to be someone investing in outside countries, your foreign bank has probably requested information from you in order to confirm your United States tax ...

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All You Need to Know About IRS OVDI

IRS Offshore Voluntary Disclosure Program (OVDI) As stated in our IRS OVDI page, IRS OVDI is the Offshore Voluntary Disclosure Initiative, which gives an opportunity for individuals holding undisclosed foreign bank accounts to disclose this information to the IRS.  This will help to avoid criminal ...

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IRS Changes Offshore Disclosure Programs

The IRS announced this summer a change to both the Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer Taxpayers and the Offshore Voluntary Disclosure Program (OVDP) on June 18, 2014. This is also known as the Offshore Voluntary Disclosure Intiative (OVDI). As of July 1, the IRS ...

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OVDI: To Quietly Disclose or Opt-Out?

Over these past couple of years, the IRS has made an attempt to expand upon the process by which holders of foreign-held bank accounts are required to bring forth unpaid taxes and penalties in order to avoid criminal charges and further punitive penalties.  This compliance attempt is summed up in O...

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