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

OVDP part 3

OVDP part 3 http://www.youtube.com/watch?v=Wc8WpK6yZzw Anthony Parent

2014 Offshore Voluntary Disclosure Guide (OVDP/OVDI) Part 2: Do you need to use the program?

2014 Offshore Voluntary Disclosure Guide (OVDP/OVDI) Part 2: Do you need to use the program? http://www.irsmedic.com In Part II of the 2014 IRSMedic Guide to Offshore Voluntary Disclosure, tax attorney Anthony Parent discusses the OVDP process considerations and more specifically the IRS OVDI FAQs 12-21 here: http://www.irs.gov/Individuals/International-Taxpayers/Offshore-Voluntary-Disclosure-Program-Frequently-Asked-Questions-and-Answers. He answers questions such as, who is eligible to make a disclosure and what to do if you are not (hint:exercise your constitutional right to shut your mouth). What to do if you made a so-called soft-disclosure and your real risk if you did attempt one. He also discussed who DOESN'T need to use the full OVDP: Low-risk expats with unfiled taxes and those with just unfiled FBARS, Forms 5471, 5472, 3250s with no unreported income. Whether or not you can use the OVDP if you are under audit. The IRS FAQ says you can't, but actually you can under one narrow exception. Sure sure to subscribe to this channel to keep abreast of the next upload. http://www.youtube.com/watch?v=Ilt-GZi1nkQ Anthony Parent

The IRSMedic 2014 Offshore Voluntary Disclosure Program/Initiative (OVDIOVDP) Guide Part 1

The IRSMedic 2014 Offshore Voluntary Disclosure Program/Initiative (OVDIOVDP) Guide Part 1 http://www.irsmedic.com In this, part ! of the IRSMedic 2014 Offshore Disclosure Guide, offshore tax attorney Anthony E. Parent, of Parent & Parent LLP, answers the basic questions like: What is OVDI? What is OVDP? Why is the big deal? In this he also gives the official answers to OVDI FAQ #1 - #6, along with the widsom his firm has learned since the first OVDI in 2009. Watch this video and learn: Why the OVDI can be so unfair. Who is at risk of criminal prosecution Other types of FBAR penalties to look out for. Subscribe now to be one of the first to learn when Part II of this guide, "The OVDI Process" will be online. For questions about FBAR penalties, sign up for the IRSMedic free webinar (now on replay) "Everything you NEVER wanted to know about FBAR penalties but must at htttp://www.irsmedic.com/fbar-penalties Visit our offshore disclosure blog at http://www.irsmedic.com/category/offshorevoluntarydisclosureinitiative/ http://www.youtube.com/watch?v=Q16vOLjtKiQ Anthony Parent