OVDP Ending – Streamlined Procedure still ideal amnesty program
OVDP Ending – non-event for most expats
The famed OVDP program is nearing its end on Sep 28, 2018. We at TFX have not been fans of OVDP because of the draconian penalties attached, as well as the high compliance fees (read: lawyer fees) instead of providing an optimal scenario for the taxpayer. The only time we recommended pursuing the program as an option is when the IRS had already started a civil investigation, which is not relevant for 98% of delinquent expats.
Streamlined Program – best option
Although OVDP is ending, they have kept alive the Streamlined Foreign Offshore Program. This program has several key features which made it a far more attractive option than OVDP.
Whole Story at TFX.