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Updates to Offshore Voluntary Disclosure Program (AVDP) and Streamlined Filing Procedures Presenter Panel Dave Horton, Director, IIC David. W. Horton IRS.gov Christine Stone, AVDP Coordinator Christine.
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Offshore voluntary disclosures are updates made by taxpayers who previously failed to disclose offshore accounts and assets to the IRS.
Taxpayers who have undisclosed offshore accounts or assets and wish to rectify their noncompliance with the IRS are required to file updates to offshore voluntary.
Taxpayers can fill out updates to offshore voluntary by following the instructions provided by the IRS, including submitting all required forms and documentation.
The purpose of updates to offshore voluntary is to allow taxpayers to come into compliance with their tax reporting obligations and avoid potential penalties or criminal prosecution.
Taxpayers must report detailed information about their offshore accounts, assets, income, and any previously unreported income on updates to offshore voluntary.
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