Offshore Voluntary Disclosure Program Law | Illinois Lawyer

OVDP

The Offshore Voluntary Disclosure Program allows people who previously failed to declare overseas assets to do so without fear of civil or criminal penalties. Every U.S. citizen and resident with a cumulative $10,000 or more in foreign assets must disclose this fact to U.S. authorities annually. If you haven’t been complying with the financial reporting requirements, get in touch with us today!

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chicago tax lawyer: FBAR assistance

FBAR: What You Need To Disclose To The IRS?

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Hiding assets from the Internal Revenue Service is never, ever a good idea. But if it happens, there are ways to come clean without incurring criminal penalties.

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If you have money or material holdings in a foreign country, the IRS wants to know about it. And if you don't tell, the consequences can be catastrophic.

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