Celesq® Programs

The Future of IRS Voluntary Disclosures in a Post-OVDP World

Expired
Program Number
2993
Program Date
2019-07-18
CLE Credits
1

Following the termination last fall of its immensely successful Offshore Voluntary Disclosure Program (OVDP), the Internal Revenue Service (IRS) has announced a new regime to govern all voluntary disclosures regarding tax noncompliance. These new procedures apply to both domestic and offshore voluntary disclosures, and in many ways, they replicate the procedures under the now-shuttered OVDP. In other ways, the new procedures are significantly different, particularly the new civil penalty framework, which calls for the imposition of a 50 percent penalty on undisclosed offshore financial assets, and a 75 percent civil fraud penalty on unpaid taxes. This program will trace the history of IRS voluntary disclosure programs, review key elements of the new regime announced in November 2018, and provide guidance to practitioners considering whether voluntary disclosures are warranted.

Available in States

  • California
  • Georgia
  • New Jersey
  • New York
  • Texas Self Study

Program Categories

  • Banking & Finance Law
  • Bankruptcy Law & Creditor Rights
  • Communications and Media Law
  • Complex Litigation
  • Constitutional Law
  • Corporate and Securities Law
  • Criminal Law & Procedure
  • Federal Courts
  • In-House Counsel
  • Intellectual Property Law
  • Litigation and Appeals
  • Regulatory and Administrative Law
  • State, Local and Municipal Law
  • Taxation Law

PROGRAM CREDITS

  • Areas of Professional Practice : 1 Credit