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