{"id":1533,"date":"2017-02-23T19:16:48","date_gmt":"2017-02-23T19:16:48","guid":{"rendered":"http:\/\/www.patellawoffices.com\/blog\/?p=1533"},"modified":"2017-02-13T19:20:48","modified_gmt":"2017-02-13T19:20:48","slug":"irs-announces-new-ovdp-declines-withdrawals-campaign","status":"publish","type":"post","link":"https:\/\/patellawoffices.com\/blog\/planning-for-tax-minimization\/irs-announces-new-ovdp-declines-withdrawals-campaign\/","title":{"rendered":"IRS Announces new OVDP Declines-Withdrawals Campaign"},"content":{"rendered":"<p>Earlier this month, the IRS&#8217; Large Business and International division released its list of <a href=\"https:\/\/www.irs.gov\/businesses\/large-business-and-international-launches-compliance-campaigns\">13 focus areas for issue- based examinations and concerns for compliance<\/a>. \u00a0 One of those areas involves the IRS Offshore Voluntary Disclosure Program. \u00a0Entitled, \u201cOVDP Declines-Withdrawals Campaign,\u201d this area of focus involves taxpayers who have applied for the offshore voluntary disclosure program through the pre-clearance process, but were either denied access to the program or withdrew from the program.<\/p>\n<p>What happens next? \u00a0\u201cThe IRS will address continued noncompliance through a variety of treatment streams including examination.\u201d \u00a0Examining those taxpayers who could not enter the program, because they are under civil audit, criminal investigation, or the IRS is otherwise aware of the account(s) at issue in the disclosure, is expected. Further, those who violated the law intentionally might expect a criminal tax investigation or possible referral for prosecution, depending on the circumstances and reasons for denial into the program.<\/p>\n<p>We have seen more\u00a0audits and FBAR inquiries associated with taxpayers who have not come forward.\u00a0Taxpayers should know whether they have Federal tax return issues, or anticipated issues, reflected in any of the above-listed OVDP Declines-Withdrawals Campaign. \u00a0Such taxpayers should get legal counsel immediately before its too late.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, the IRS&#8217; Large Business and International division released its list of 13 focus areas for issue- based examinations and concerns for compliance. \u00a0 One of those areas involves the IRS Offshore Voluntary Disclosure Program. \u00a0Entitled, \u201cOVDP Declines-Withdrawals Campaign,\u201d this area of focus involves taxpayers who have applied for the offshore voluntary disclosure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_daextam_enable_autolinks":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[23,24,54,88,27],"class_list":["post-1533","post","type-post","status-publish","format-standard","hentry","category-planning-for-tax-minimization","tag-fbar","tag-foreign-account","tag-offshore-accounts","tag-streamlined-filing-compliance-procedures","tag-voluntary-disclosure"],"_links":{"self":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/comments?post=1533"}],"version-history":[{"count":1,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1533\/revisions"}],"predecessor-version":[{"id":1534,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/posts\/1533\/revisions\/1534"}],"wp:attachment":[{"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/media?parent=1533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/categories?post=1533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/patellawoffices.com\/blog\/wp-json\/wp\/v2\/tags?post=1533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}