Recently we successfully completed the requirements for the Offshore Voluntary Disclosure Program (OVDP) for one of our clients. The client had previously lived outside the United States and had an offshore account which had not been reported to the IRS. The client received a letter from the Swiss bank explaining that it would provide information about the account to the IRS pursuant to a 2013 Joint Statement between the U.S. Department of Justice and the Swiss Federal Department of Finance. The client then retained us. We placed our client into the OVDP and successfully resolved the matter and the client did not have to face criminal charges for not reporting the offshore account and not disclosing the offshore income to the IRS.
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outcome of your legal matter.