2014 OVDP announced

2014 OVDP announced Only days left to get into the 2012 OVDP as the terms of the 2014 OVDP have just been announced: http://ift.tt/SUOiXJ In this video we give an overview of some of the changes. Most taxpayers will be able to take advantage of the streamlined domestic OVDP and pay a standard 5% penalty. Also the income thresholds are removed. Taxpayers who have made soft disclosures may use the streamlined program and pay a 5% penalty or enter into the full OVDP. However, the new 5% penalty may still be inappropriate. Taxpayers still have the option to opt-out and seek a warning letter, that is no penalty. Those who have bank under investigation are subject to a standard 50% penalty as opposed to 27.5%. So there is real pressure for those to submit under the 2012 rules if possible, if they are not opt-out candidates. Subscribe to this channel for important updates. http://ift.tt/SUOhmo Anthony Parent