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The Future of IRS Voluntary Disclosures in a Post-OVDP World

Taxes

THE FUTURE OF IRS VOLUNTARY DISCLOSURES IN A POST-OVDP WORLD

Cost Free

CPE Credits 1.5 hours

Subject Area 1.5 - Taxes (Federal Tax Update)

CE Credits 1.0 hour

Course Id# - HURS9-U-00362-18-O

Course Level Basic

Instructional Method Group Internet Based

Prerequisites None

Advanced Preparation None

Who Should Attend CPA - small firm
CPA - medium firm
CPA - large firm
Enrolled Agent
Other

Series: Taxes, Enrolled Agents

Course Description

On September 28, 2018, the Internal Revenue Service closed its long-running and hugely successful Offshore Voluntary Disclosure Program. Initially unveiled in March 2009, the OVDP proved to be the most successful tax amnesty program in IRS history, with over 55,000 taxpayers disclosing offshore assets and paying over $11 billion in back taxes, interest, and penalties.

Despite the closure of OVDP, the IRS and the Justice Department continue their unprecedented criminal and civil enforcement campaign against non-compliant taxpayers.

Voluntary disclosure options remain available to taxpayers, such as the Streamlined Filing Compliance Procedures and traditional voluntary disclosure practice, among others. This webinar will review all of the options available to non-compliant taxpayers and discuss the benefits and risks of various courses of action in the post-OVDP world.

Matthew D. Lee

Fox Rothschild LLP
Partner
mlee@foxrothschild.com
(215) 299-2765

Matthew D. Lee is a partner at the law firm of Fox Rothschild LLP in Philadelphia. He is co-chair of the firm's White-Collar Criminal Defense & Regulatory Compliance practice group and maintains an extensive tax controversy practice. Mr. Lee regularly represents individuals and businesses in criminal and civil tax matters, including criminal tax investigations, prosecutions, and proceedings before the Internal Revenue Service, such as audits, appeals, and collection matters.

Jeffrey M. Rosenfeld

Blank Rome LLP
Associate Tax Attorney
rosenfeld@blankrome.com
(215) 569-5752

Jeffrey Rosenfeld concentrates his practice in the area of business tax law. He counsels public and private corporations, partnerships, and individuals in a broad array of tax matters including:

domestic and international tax matters
state and local tax planning
tax-efficient structuring of domestic and international mergers, acquisitions, divestitures, reorganizations, spin-offs, redemptions, and liquidations
formation, operation, and acquisition of Subchapter S Corporations, partnerships, and limited liability companies
federal, state, and local criminal and civil tax controversies, including audits, administrative appeals, and litigation
issuances of equity-based compensation

Jeffrey counsels corporate clients and individuals regarding undeclared foreign bank accounts, including “FBAR” reporting obligations, and has represented numerous clients in the Internal Revenue Service’s Offshore Voluntary Disclosure Program.
Jeffrey also has digital currencies industry experience, including:

Formation of entities to be engaged in the digital currencies space
Negotiation, drafting and documentation of governing documents (such as limited liability company agreement) for entities engaged in the digital currencies space
Compensation and other issues concerning the issuance of digital currencies or the grant of digital currencies to service providers
Federal income tax consequences associated with the purchase, sale or exchange of digital currencies

Additional Materials

Webinar Technical FAQs

Frequently Asked Questions

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Handout Materials

Presentation Slides

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About Our Presenter

Fox Rothschild LLP is a national law firm with more than 950 attorneys in 27 locations across the United States serving businesses of all sizes as well as individuals. Clients come to Fox because our attorneys understand their issues, their priorities, and the way they think. At Fox, our attorneys care about your success as much as you do.