Offshore compliance remains a top priority for the Internal Revenue Service (IRS). Offshore tax avoidance is included in the IRS’ 2017 Dirty Dozen list which highlights the most common tax scams and abuses that the IRS seeks to avert and prosecute. The IRS is also rolling out an OVDP audit campaign which aims to address OVDP or pre-clearance applicants who withdrew from the program voluntarily or were rejected. In case of non-compliance, one should try to resolve it through available offshore programs.
Although coming into compliance is a very challenging task, the consequences of failing to do so are worse than the sanctions for coming clean with the IRS.
In this LIVE Webcast, a panel of distinguished professionals and thought leaders assembled by The Knowledge Group will provide the audience with an overview of the latest developments relating to the IRS Offshore Voluntary Disclosure Program (OVDP). Speakers will also share helpful insights and best compliance practices.
Key topics include:
- OVDP – An Overview
- The OVDP Audit Campaign
- Offshore Tax Avoidance Penalties
- Best Compliance Practices
- 2017 OVDP Outlook