(contributed by Brad Flecke, CFP®)
The new Offshore Voluntary Disclosure Program is a substantial improvement over the 2011 Offshore Disclosure Initiative. In creating new opportunities, however, OVDP raises at least two new legal issues that a taxpayer may wish to discuss with an attorney before electing to participate in the program. Even for those taxpayers who probably owe little or no tax, OVDP is not a quick fix.
For details, see the full post on my personal blog: BORDERS.
