IRS Offshore Voluntary Disclosure Program

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In the past few years, the Internal Revenue Service (IRS) has come up with strict measures to ensure that all United States Citizens with offshore accounts pay taxes. This has resulted due to a high number of people with foreign accounts who fail to remit their taxes. Note that if you are caught, the IRS has the right to prosecute you because it is a crime to fail to pay the taxes. There are also fines involved when you are entered into the IRS Offshore Voluntary Disclosure Program. If you find yourself into this problem, there is no need for you to worry. At Legal Tax Defense, our highly qualified tax attorneys can offer the right solutions and ensure you are not prosecuted.

Changes in the IRS Offshore Voluntary Disclosure Program

The IRS has made several changes in the program to help collect more taxes from citizens with offshore accounts. Some of the changes you should know include:

  • Increase in penalties
  • Offer benefits for those who disclose their offshore account details
  • The ability to close the program or increase penalties at any time

The voluntary disclosure program is aimed at allowing people with foreign accounts to disclose their information. This benefits the IRS since most of the cases are resolved without wasting time or resources.

What happens if you violate the terms set by the IRS?

If the IRS detects that you have violated the laid down regulations. There are various penalties you can face. You can be prosecuted as a fraudster, which attracts huge penalties. Some of the violations you can be punished for include:

  • Failure to pay tax
  • Filing incorrect tax return
  • Not filing an income tax return
  • Failing to file an offshore account report

All these violations can attract penalties or long prison terms that change from time to time. With the stake that comes with having an offshore account, IRS is always harsh with those who violate the terms set. If you have violated any of these regulations or have any queries at Legal Tax Defense, we are always there to help you.

Why we are the best option

Our tax lawyers have a good reputation in helping clients resolve both simple and complex tax issues. With vast experience in the legal industry, you can trust us to help you avoid prosecution when you are caught by IRS for failure to remit taxes from your offshore account.  All our tax attorneys are highly qualified and certified, so you can have peace of mind when we take over your case with IRS. Our commitment and dedication are what make us stand out from all the other tax legal firms and enjoy a strong client base. We can also help you take full advantage of the program and avoid a lot of legal issues from occurring. You just need to call us today for personalized assistance or visit for more information on how we can help.


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