Part III: The 2014 IRSMedic Guide to Offshore Voluntary Disclosure

Part III: The 2014 IRSMedic Guide to Offshore Voluntary Disclosure http://www.irsmedic.com In Part III of the 2014 Offshore Voluntary Disclosure Guide, Tax Attorney Anthony E. Parent discuses the costs of complying with the various Offshore Program, including attorney fees, along with the some of the risks associated with not disclosing foregin offshore bank accounts to the IRS. In particular 1. The Standard OVDP with 27.5% Offshore penalty 2. The Reduced 12.5% penalty for accounts less than $75,000 3. The Reduced 5% penalty available in a few cases (and the reason why it isn't such a great deal) 4. The Streamlined OVDI with a 0% Offshore Penalty 5. And the opt-out process which has a potential of a 0% Offshore Penalty. Also discussed, are the metrics by which Parent & Parent LLP uses to determine the flat-fee charged for representing clients with offshore accounts. Subscribe to this channel to be alerted to Part IV as soon as it us uploaded. http://www.irsmedic.com/?p=9352 http://www.youtube.com/watch?v=mjg4PBshXzE Anthony Parent