Submitted an OVDP Preclearance but Want to Go Streamlined (SFCP)?

OVDP Preclearance OVDP (Offshore Voluntary Disclosure) Preclearance Letter is the process of submitting an initial letter to the criminal investigation Department of the IRS to determine whether you qualify for OVDP. The majority of applicants do qualify, and usually the only issue that will disqualify a person is that they are currently under criminal investigation or…


Closed Foreign Bank Accounts – Tax Returns, FBAR & 8938 Reporting

Closing your Foreign Bank Account and/or other accounts instead of getting into FATCA and IRS Tax Compliance is a risky proposition, that may result in fines and penalties — as well as subject you to a criminal investigation by the U.S. Government. Foreign Account Reporting In order to be compliant with FATCA, FBAR (FinCEN 114),…