
MSU Generic Prescribing Program Exception Request Form 2011-2025 free printable template
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Anthony so we are back talking about FATWA as we continue our FATWA series we're now up to video number 8 excellent yes FATWA in simple terms is the federal law that requires all US taxpayers even those living outside the US to report their non-us financial accounts yearly ok now we've already talked about the basics of FATWA why it's so annoying filing thresholds today we want to talk about s DOP vs OLD P yeah right, so we have offshore voluntary disclosure program right that's the full offshore voluntary disclosure program that's ROV DP, and then we have streamlined domestic offshore procedures Wow is our DOP that's the streamlined program and that is actually part of the Oh GDP but a process but OLD P vs s DOP is the best way to say it yeah, and you might be asking a question well my first question is what the heck are these programs so just so people understand these programs the government made them for those that have offshore accounts to give them an opportunity to get into compliance, so that's what we're talking about but why aren't we including SFO P which is the streamlined for an offshore program the reason why is there is no penalty, so that's what this is really about is describing the different penalties of OE DP versus STO P, but there's no point to discuss SFO P because you have a zero penalty there's it so if you could do that it's always the best deal take it we're getting over some examples of where the full more onerous old P can actually blow or give you a lower penalty than the STO P even if you don't go through the onerous opt out it could just be the best deal off the shelf and so you really want to be careful of which way you're going when you're doing this, and I will say that this is probably the most complicated second most complicated because we have done P fix we've done four in life insurance well third most Cup it's something on the difficulty level it's up there so if you are saying what are they saying they're going to ask I'll try to talk slower and this is a difficult subject to understand because if we're dealing with some of the craziest programs that don't really have any review the IRS makes it up puts it on a website, and it sees if it could work the IRS does don't really couldn't imagine every sort of application of it and where we end up with somewhat ridiculous results I mean we're literally learning new things about this every day and so the IRS yep all right so Christopher Chen if you can please pull up our white board so Anthony you can go over some different scenarios and the penalties that could be accrued okay, so I wanted to give a very simple example here and on this board I have let's just assume that there's a US person with two offshore accounts there's an offshore account a and there's offshore account B there's 50000 in both a and B and in both accounts' no F bar and no 8938 was reported and there's e a and B they're there I am going back look at that look at that replay a football game...
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