IRS Offshore Disclosure – Highest vs. Year-End Balance Calculations

This article will summarize OVDP (Highest-Year Balance) vs. Streamlined (Highest “Year-End” Balance). Once a person comes to the realization that they are going to submit to OVDP IRS Offshore Voluntary Disclosure Program and pay an upfront penalty in order to leverage against a possible much larger penalty in the future (or Opt-Out), they must determine…


Can the IRS Levy Foreign Bank Accounts – Golding & Golding

Yes. Just because you reside and/or have Bank Accounts, Assets, or Income overseas does not mean your Foreign Bank Accounts, Assets, or Income are safe from the Internal Revenue Service (IRS).   FATCA FATCA is the Foreign Account Tax Compliance Act. It is an IRS International Tax Law that is designed to reduce offshore tax evasion…