The Resource New 2011 offshore voluntary disclosure initiative

New 2011 offshore voluntary disclosure initiative

Label
New 2011 offshore voluntary disclosure initiative
Title
New 2011 offshore voluntary disclosure initiative
Creator
Subject
Language
eng
Summary
The objective of the 2011 Offshore Voluntary Disclosure Initiative (OVDI), like the 2009 Offshore Voluntary Disclosure Program (OVDP), is to encourage taxpayers with unreported offshore assets and income to voluntary disclose them in exchange for reduced penalties and protection from criminal prosecution. This article describes the background of IRS voluntary disclosure practice, including a brief review of the 2009 OVDP, analyses the 2011 OVDI and how this new program differs from prior practices, and summarizes the U.S. filing and reporting requirements related to offshore
Citation source
In: Journal of international taxation. - New York. - Vol. 22 (2011),
Geographic coverage
North America
Language note
English
http://bibfra.me/vocab/lite/organizationName
Baker & McKenzie Voluntary Disclosure Steering Committee
http://library.link/vocab/subjectName
  • offshore bank
  • voluntary disclosure
  • penalties
  • PFIC
Label
New 2011 offshore voluntary disclosure initiative
Instantiates
Publication
Label
New 2011 offshore voluntary disclosure initiative
Publication

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      52.3736660 4.9336932
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