IRS Announces Multilingual Resources

The IRS issued an announcement today to remind taxpayers that tax information is available online in a variety of languages.  The IRS’ Multilingual Gateway offers information in Chinese, Korean, Vietnamese, Russian, and Spanish.  The Gateway can be accessed via the following link:

IRS Multilingual Gateway – tax information in 5 additional languages

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.

IRS reopens voluntary disclosure program

The IRS has announced that it is reopening its Offshore Voluntary Disclosure Program (“OVDP”).  This version of the OVDP will be similar to the ones in 2009 and 2011, with some changes.  For example, while the current version of the program has not been given an end date, the IRS has stated that it could change the terms of the program at any time going forward.

The 2009 and 2011 OVDP programs resulted in over 33,000 voluntary disclosures, as well as over $4 billion in collections.  As the IRS continues its aggressive focus on offshore tax evasion, it might be time for those who have decided to pass on previous versions of the OVDP to “get right” with the government.

The link to the official announcement is:

http://www.irs.gov/newsroom/article/0,,id=252162,00.html

IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.