|The IRS Offshore Voluntary Disclosure Program (OVDP) ended on September 28, 2018. The IRS stated that disclosures “must be must be received or postmarked by September 28, 2018 and may not be partial, incomplete, or placeholder submissions.”|
Why Is the Program Ending?
The IRS answered this in frequently asked questions on its website stating: “While the program has been successful in the past, there has been a significant decline in the number of taxpayers participating as well as an increase in awareness of offshore tax and reporting obligations.”
The IRS previously stated that the 2014 program would end at some time and announced the closing earlier this year.
Read more from the IRS here.