Offshore Tax Compliance Partner Kevin Packman will speak at the Off Shore Alert Conference on "Implications of the IRS Offshore Voluntary Disclosure program."
Mr. Packman will discuss the implications of the new IRS Offshore Voluntary Disclosure program, which was announced on February 8, and how taxpayers can benefit from it. He will explain the eligibility requirements and penalty structure and compare it to the 2009 voluntary disclosure program.
Final regulations were issued on February 23 to amend the regulations under the Bank Secrecy Act provisions that apply to the Report of Foreign Bank and Financial Accounts (FBAR). Mr. Packman will also review the state of the FBAR filing in 2011, including who needs to file, which accounts must be reported and what to do about signature authority.
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