• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • (614) 849-0376
  • kdodson@tgradylaw.com
  • 100 E Broad St. Suite 2310, Columbus, OH 43215

Terrence A. Grady

& Associates Co., L. P. A.

  • Home
  • Services
    • Civil Tax Disputes & Litigation
      • Businesses and Individual Income Tax Audits & Appeals and Tax Litigation
      • Payroll Tax Disputes/Trust Fund Recovery Penalty
    • IRS Collections, Liens & Levies
      • Options to Settle Tax Liabilities
      • Offers in Compromise
      • Installment Agreements
      • Penalty Abatement
    • Federal White Collar & Tax Crime
      • Tax Crimes
      • Failure to File Tax Returns & Underreported Income
      • FAQ’s About Criminal Tax Investigations
      • Fraud, Financial & Securities Crimes
    • International Tax Planning & Compliance
      • Foreign Bank Account & Foreign Entity and Investment Reporting
      • IRS Voluntary Disclosure Initiative
      • International Tax Audits and Investigations
      • Foreign Account Tax Compliance Act (FATCA) Assessment & Compliance Planning
    • Tax & Business Planning
  • Firm Overview
  • Attorneys
    • Terrence A. Grady
    • Katherine R. Dodson
  • News
  • Contact Our Attorneys
    • Directions and Parking
You are here: Home / Services / International Tax Planning & Compliance / IRS Voluntary Disclosure Initiative

IRS Voluntary Disclosure Initiative

Resolving Delinquencies in Foreign Investment Reporting

For those with delinquencies in foreign bank account or foreign entity reporting, the Offshore Voluntary Disclosure Program provides a solution. Through this initiative, you have the ability to become current on foreign investment reporting and past due tax payments without the risk of criminal prosecution. As part of the program requirements, the government mandates that you pay all back taxes and interest, provide the previous eight years of income tax returns and pay a miscellaneous penalty fine.

While this program offers relief to a number of individuals, it is important to note that international reporting requirements are complex. Additionally, the IRS recently opened additional disclosure options (including the streamlined filing compliance procedure). These additional disclosure options are much more lenient and less punitive to taxpayers who negligently failed to make proper disclosures. Given all the complexities in the area, it is highly advisable to seek counsel from an experienced tax attorney before proceeding.

An Established International Tax Attorney

At Terrence A. Grady & Associates Co., L.P.A., our lawyers place a strong emphasis on international tax law, foreign investment reporting and IRS compliance. Backed by more than 30 years of legal experience in domestic and international taxation issues, attorney Grady has a full understanding of IRS regulations, tax codes and international reporting requirements. For those who are delinquent in foreign investment reporting, we provide skilled legal guidance throughout the Voluntary Disclosure process to ensure legal compliance.

After helping you become current on past due taxes and international reporting requirements, our law firm can also provide an annual review of your foreign accounts and investments to help you avoid IRS issues in the future.

Contact Our Ohio Lawyers about the Offshore Voluntary Disclosure Program

Our attorneys can help you make use of this beneficial initiative. Contact our Columbus law firm to learn more about your options.

Primary Sidebar

International Tax Planning Topics

  • Foreign Bank Account & Foreign Entity and Investment Reporting
  • IRS Voluntary Disclosure Initiative
  • International Tax Audits and Investigations
  • Foreign Account Tax Compliance Act (FATCA) Assessment & Compliance Planning

Contact Us Now:
614-849-0376

Recent Posts

  • Update on IRS’s People’s First Initiative- Compliance, Filing & Payment Relief
  • IRS Letters 6336 for Micro-Captive- Response Date Extended to June 4, 2020
  • SBA Paycheck Protection Program Loan (COVID-19 Stimulus)
  • Tax Relief Provided by CARES Act
  • IRS Issues FAQs on Some Payment Postponements

Footer

Browser Our Website

  • Home
  • Services
  • Firm Overview
  • Attorneys
  • News
  • Contact Our Attorneys
  • Privacy Policy

Contact Information

100 E Broad St. Suite 2310, Columbus, OH 43215
Phone: (614) 849-0376
kdodson@tgradylaw.com

Hours of Operation:
Mon-Fri 9:00 AM - 5:00 PM
Sat-Sun Closed
Weekends By Appointment Only


 

Send Us A Message

  • Required items are marked with an *.
  • This field is for validation purposes and should be left unchanged.

Copyright © 2021 Terrence A. Grady & Associates Co., L. P. A.

WordPress Website by jhWebWorks, Columbus, Ohio