Offshore Voluntary Disclosure Program Reopens

01/25/2012
Tax Day is April 17
Taxpayers will have until Tuesday, April 17, 2012, to file their 2011 tax returns due to Emancipation Day.
Returns with a valid extension will be due Monday, October 15, 2012.
Offshore Voluntary Disclosure Program Reopens
The IRS reopened the Offshore Voluntary Disclosure Program to help those hiding offshore accounts get current with their taxes. The two previous international programs collected more than $4.4 billion.
The program is similar to the 2011 program, but with a few key differences. Unlike last year, there is no set deadline for people to apply and the terms of the program could change at any time. The IRS may increase penalties or decide to end the program at any point. More information is available in IR-2012-5