OVDP stands for the “Offshore Voluntary Compliance Program”. This program was used for US individuals who failed to report foreign financial assets to the IRS and report income related to those assets. The program has been replaced by the IRS Voluntary Disclosure Program or shifted towards the Streamlined Filing Compliance Procedures (https://www.irs.gov/individuals/international-taxpayers/streamlined-filing-compliance-procedures) to report previously unreported foreign financial assets and income. Contact an International Tax Attorney at The McGuire Law Firm if you have any questions regarding the IRS OVDP offerings.
Streamlined Filing Compliance Procedures
Contact an international tax attorney to discuss your situation.
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