The Internal Revenue Service has collected over $5.5 billion in revenue from taxpayers who came forward and reported on their foreign holdings under its Offshore Voluntary Disclosure Programs, but it ...

The Internal Revenue Service has gotten 12,000 new applications under its 2011 voluntary disclosure program of offshore bank accounts, pushing the total number of disclosures to 30,000 since 2009, ...

The IRS said Wednesday it would make major changes in its offshore voluntary compliance programs to provide new options to help both taxpayers residing overseas and those residing in the United States ...

{mosads}The new program, while similar to its predecessors, has tougher penalties. The IRS has said in the past that taxpayers should not be rewarded for deciding not to take part in previous offshore ...

Kelly Phillips Erb is a Forbes senior writer who covers tax. The IRS launched the OVDP in 2009 to encourage compliance with foreign asset reporting. Structured as a tax amnesty program, it allowed U.S ...

The IRS today extended the deadline for voluntary disclosures by taxpayers with unreported income from hidden offshore accounts from this Wednesday, Sept. 23, to Oct. 15. The IRS cautioned that there ...

Just in time for the Foreign Account Tax Compliance Act (FATCA), which goes into effect July 1, the IRS announced changes to its streamlined filing compliance procedures and its Offshore Voluntary ...

The Internal Revenue Service has extended the due date until Sept. 9, 2011, for taxpayers with undisclosed foreign bank accounts to participate in its latest offshore voluntary disclosure initiative.

HM Revenue & Customs (HMRC) has confirmed the details of a new disclosure initiative that will allow people with unpaid taxes linked to offshore accounts or assets to settle their tax liabilities at a ...

People with offshore investments who have notified HM Revenue & Customs (HMRC) that they want to use the New Disclosure Opportunity (NDO) have just one week to make their disclosures online and to pay ...