Call to Request a Free Consultation
2011 IRS Offshore Voluntary Disclosure Initiative Ending Soon One of Florida's Most Reputable Defense Law Firms

2011 IRS Offshore Voluntary Disclosure Initiative Ending Soon

The United States Internal Revenue Service (IRS) is offering those with undisclosed offshore bank accounts an opportunity to get current on their tax returns. The 2011 Offshore Voluntary Disclosure Initiative (OVDI) seeks to bring taxpayers with undisclosed foreign bank accounts - whether in the Cayman Islands, Europe, South America or Asia - into compliance with United States tax laws.

Taxpayers who have undisclosed offshore accounts are eligible to apply to the 2011 OVDI. The program requires disclosing unreported income from 2003 through 2010 and filing amended tax returns.

Value of 2009 Program to Taxpayers: Reduced Risk of Prosecution

A similar Voluntary Offshore Disclosure Program in 2009 was a success for both taxpayers and the IRS. Because of the program, taxpayers with undisclosed offshore accounts were able to accurately predict the amount of taxes and penalties they owed and the IRS was able to collect taxes on previously undisclosed income.

The real benefit to taxpayers with undisclosed offshore accounts who participate in the 2011 initiative is that they avoid criminal prosecution by successfully completing the program. Thus the OVDI offers noncompliant taxpayers a chance to get current on their taxes, significantly reduce civil penalties and avoid felony convictions and imprisonment.

Failure to Participate Means Substantial Risks

Those who do not voluntarily disclose their offshore accounts may face criminal charges if the IRS discovers the offshore accounts. Possible charges include:

  • Tax evasion
  • Filing a false return
  • Willful failure to file the FBAR (the IRS form that discloses the offshore accounts)
  • A person convicted of tax evasion faces a possible prison term of up to five years and a fine of up to $250,000 for each year. A conviction for filing a false return brings a possible prison term of up to three years and a fine of up to $250,000. A person convicted of willful failure to file an FBAR faces up to a 10 year prison term and a criminal fine of up to $500,000.

An Experienced Attorney Can Help

The terms of the 2011 OVDI are only available to those taxpayers who enter the voluntary disclosure process before September 9th, 2011. If you have an undisclosed offshore account, contact an experienced criminal defense tax attorney who can explain the OVDI. For more information, contact an attorney today.

Dedicated to Excellence

Read Our Client Reviews
  • Jan, Former Client

    The best criminal defense attorney in Orlando!

  • Former Client

    In the fight of my life, I wouldn't have wanted to use anyone else.

  • Former Client

    I believe this positive outcome is a reflection of your life’s work.

  • Ted, Former Client

    Throughout the entire nightmare, Mr. Horwitz was by my side all the way. I could not have been better represented. Once indicted, I could not have had a better outcome.

  • Anonymous

    Mr. Citro knows the ins-and-outs of how the Government operates and works their cases.

  • Roshelle P., Former Client

    I know he fought for me and that's the best feeling you could ever have when you find yourself in the middle of a nightmare. I would highly recommend this law firm for anyone needing someone to fight for them!

  • Rob, Former Client

    The attention to detail and professional approach to my situation was extraordinary. Attorney Mark Horwitz made me feel like my case was important to him and that he and his staff cared about the outcome.

  • Daniel, Former Client

    Competent and thorough legal counsel!

  • John, Former Client

    Couldn’t have asked for a better outcome!

  • Nalita, Former Client

    I greatly appreciate the time and diligence that they spent on my case.

  • Cary

    This is the Attorney I highly recommend!

  • Randy P., Former Client

    I felt strong and confident that no other attorney team could have represented me better.

  • Anonymous, Former Client

    I received good quality legal services from an experienced and well respected lawyer.

The Edge You Need

6 Reasons to Hire Us
  • Former Federal Prosecutors
  • Board Certified with The Florida Bar & the National Board of Trial Advocacy
  • Personalized Client Service & Aggressive Legal Advocacy
  • Published Speakers/Authors & an Authority on Federal Matters
  • Regularly Featured in the News & Media
  • Highly Regarded by Peers, Prosecutors & Judges

Let's Discuss Your Case

Request a Free Consultation
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.