In This Section

The Offshore Voluntary Disclosure Program (OVDP)

The U.S. government aggressively scrutinizes U.S. citizens, resident aliens, certain nonresident aliens, and certain domestic corporations, partnerships and trusts that have interests or signature authority in offshore accounts or own foreign assets, including:

  • Signature authority on a foreign financial account
  • A financial account at a foreign branch of a U.S. bank
  • A foreign corporation
  • A foreign trust
  • A foreign partnership interest
  • Indirect interest in foreign assets
  • Foreign mutual funds
  • Domestic mutual funds investing in foreign stock
  • Foreign real estate
  • Precious metals, arts, antiques, jewelry, cars, collectibles
  • Social Security-type income from a foreign government
  • A foreign-issued life insurance or annuity contract with cash value
  • A safety deposit box in a foreign institution

If you do not comply with the reporting requirements when you file your taxes or the requirements for informational reporting on your accounts or assets, you may be liable for back taxes or at risk for an audit, draconian penalties and even criminal liability in the U.S.

If you are under investigation or fear that you do not comply with the Foreign Account Tax Compliance Act (FATCA) or other international tax laws, seek immediate assistance from an experienced tax law attorney before the U.S. authorities discover that you have undeclared offshore bank accounts or foreign assets that should have been disclosed.

Professional Legal Assistance Regarding The Offshore Voluntary Disclosure Program (OVDP)

Bucci Law Offices in Florida offers client-centered, solutions-oriented legal assistance to U.S. taxpayers around the world. We can guide you to solutions designed to bring you or your business into compliance with U.S. tax laws regarding offshore accounts and foreign assets. Our goal is to help you make informed, strategic decisions about the filing and reporting requirements associated with foreign assets and accounts and complex international tax laws.

Becoming Compliant Through The Offshore Voluntary Disclosure Program

In 2009, the IRS introduced a disclosure program that allows taxpayers to voluntarily disclose their foreign accounts and foreign assets to become compliant with reporting requirements. The Offshore Voluntary Disclosure Program (OVDP) has gone through several iterations since 2009, and the IRS can choose to modify the terms or end it at any time.

At Bucci Law, we can help you evaluate the benefits of participating in the formal Offshore Voluntary Disclosure Program or the Streamlined Filing Compliance Procedures. These options offer ways to minimize civil penalties for failing to properly report your overseas assets and to reduce risks of possible criminal charges for willful violations. At Bucci Law, our experienced tax lawyer can guide you skillfully through this process.

Let Us Help You Decide On A Course Of Action

Attorney Christin M. Bucci will work closely with you to determine whether the OVDP makes sense for your unique circumstances. She will advise you about available international tax management options, answer your tax law questions and create a plan to bring you into compliance with offshore reporting obligations. Let us help you minimize fines, penalties and the risk of criminal charges.

Contact Bucci Law online or call 954-900-9107 to schedule a consultation with our law firm. With offices in Fort Lauderdale and Miami, we handle cases worldwide. Call us today to schedule a consultation.