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THE MILES File THE NEWSLETTER OF THE ELIJAH MILES HOUSE FOUNDATION FALL 2007 O L D S ET T L E R S DA Y OCTOBER 20, 2007 1:00 TO 4:00 IN THE AFTERNOON OLD SETTLERS DAY SPECIAL EVENT AT 3:00 STRAWBRIDGESHEPHERD
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What is o l d s?
OLDS stands for Offshore Voluntary Disclosure Scheme, a program that allows taxpayers with undisclosed offshore income and assets to come forward and regularize their tax obligations.
Who is required to file o l d s?
Taxpayers with undisclosed offshore income and assets are required to file OLDS.
How to fill out o l d s?
To fill out OLDS, taxpayers must gather all relevant information related to their offshore income and assets, complete the necessary forms, and submit them to the appropriate tax authority.
What is the purpose of o l d s?
The purpose of OLDS is to encourage taxpayers to voluntarily disclose their offshore income and assets, in order to avoid potential penalties and legal consequences.
What information must be reported on o l d s?
Taxpayers must report all income and assets held offshore, including bank accounts, investments, and property.
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