Offshore Voluntary Disclosure

D. Sean McMahon - tax - Super Lawyers

About D. Sean McMahon

McMahon & Associates, PC
One Financial Center , 15th Floor
Boston, MA
Phone: 617-600-5400
Fax: 617-284-6260

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Selected To Super Lawyers: 2013 - 2019

Video Transcript 

ATTORNEY: Regardless of whether you only recently became aware of your IRS foreign income or asset reporting problem due to a letter from your foreign bank, which is trying to comply with FATCA, or whether you're an experienced tax evador and realize now is a good time to come clean, we have extensive experience advising clients with all versions of the IRS Offshore Voluntary Disclosure Program and in representing clients who are already subject to IRS enforcement.

The IRS currently has two categories of the Offshore Voluntary Disclosure Program-- the regular OVDP, which will accept any taxpayer not already under investigation, and the easier and less expensive streamlined OVDP, which is simpler and quicker.

The penalties and qualifying requirements vary greatly between the programs. It is imperative that you select the right one, because you only get one shot. Failure to select the correct program could result in criminal charges or large civil penalties.

We've helped hundreds of taxpayers through the process. For more information, please visit our website or call our office.

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