Time is Running out to Take Advantage of IRS's Voluntary Disclosure Program (VDP)

U.S. taxpayers who have offshore bank accounts must annually file a form TD F 90-22.1, Report of Foreign Bank and Financial Accounts ('FBAR'). Failure to disclose or false reporting can carry civil and criminal penalties. The U.S. Treasury has implemented a Voluntary Disclosure Program ('VDP'), which allows taxpayers who are delinquent on their filings to make voluntary disclosure and pay taxes and some penalties by Sept. 23, 2009, to avoid facing criminal charges and imprisonment.
Contributor
Robin Mashal
Los Angeles, California
Commercial Litigation
(310) 286-2000

About
I am a litigation lawyer, licensed to practice law in the State of California. You can reach me by phone at (310) 286-2000.