The Offshore Voluntary Disclosure Program is a special process that the Internal Revenue Services started since 2009. The goal of this program is to give an opportunity to taxpayers who have unpaid taxes from overseas accounts to pay those back. According to the IRS, the program helped many tax payers who voluntarily came forward to pay taxes for undisclosed income. Whether the citizens haven’t paid taxes for the past eight years deliberately or by honest mistake, they can bring their income tax filing up to date by entering this program. However, the tax payers cannot take advantage of this program until he or she goes through the IRS’s Pre-Clearance process. To get the clearance, tax payers have to provide personal information to the Criminal Lead Development Center at the IRS. If the IRS gives the clearance, then the tax payer can submit an Offshore Voluntary Disclosures Letter. Even this letter can be rejected by the IRS.

Once the letter is accepted only, tax payers can file all the documents that the IRS requests. The most difficult task in participating in the <a href=”http://www.kahntaxlaw.com/offshore-convictions.php”>Offshore Voluntary Disclosure Program</a> is putting all these documents together. For instance, whether the highest total amount of balance in offshore account is $500,000 or less, the tax payers are expected to provide all bank statements for each year for all eight years. Also, the IRS asks for the original documents of income tax filings for the period that the program covers.

There are many advantages for taxpayers for entering this program. The greatest one is if a tax payer fully cooperates, then the IRS has the power to not recommend prosecution. However, everything depends on the information that the tax payer provides. At this point, the tax payer will definitely need professional help – a lawyer – because of the complexity of the paperwork and legal process. Only an expert will know how to file for the <strong>IRS offshore voluntary disclosure</strong>.

That’s why the lawyer that a taxpayer hires has to have experience in the <a href=”http://www.kahntaxlaw.com/irs-offshore-tax-investigations.php”>IRS Offshore Voluntary Disclosure Program</a>. If the taxpayer thinks that he or she doesn’t need a professional lawyer to handle his or her income tax problem, the Frequently Asked Questions on www.kahntaxlaw.com explains why it is important. Also it provides information on benefits of taking advantage of the IRS Offshore Voluntary Disclosure Program. All and all www.kahntaxlaw.com is a good place to look for professional help. The California based law firm has many branches and taxpayer can find the closest office while visiting <a href=”http://www.kahntaxlaw.com/”>www.kahntaxlaw.com</a>. If the taxpayer is looking for a <strong>tax lawyer in Los Angeles</strong>, or any other area in Southern California, the website provides that information. Rather than looking for any tax lawyer in Los Angeles, it is helpful to look up that information in a reliable website.

According to income tax experts, the IRS may end this program at any time. After it ends, the IRS penalties and fines will be much higher than what it had under the Offshore Voluntary Disclosure Program.