Bye Bye John...but what about amnesty programs?



As expected, IRS Commissioner John Andrew Koskinen will step down in November.  It is expected that this may have implications for 2 key offshore voluntary compliance programs that we cover for many of our international clients. 

These are -
1. The streamlined initiative
and
2. The OVDP
http://www.derrenjoseph.com/2015/02/streamlined-foreign-offshore-procedures.html

After being tapped by President Obama, Commissioner Koskinen was sworn in as IRS Chief in December 2013.  By June 2014, major changes in the offshore voluntary compliance programs were announced -
https://www.irs.gov/newsroom/irs-makes-changes-to-offshore-programs-revisions-ease-burden-and-help-more-taxpayers-come-into-compliance


Earlier this week, President Trump named Assistant Treasury Secretary for Tax Policy - David Kautter as acting commissioner of the IRS.  David Kautter will serve in both posts until a new commissioner is named.   

Time to take advantage of the offshore voluntary compliance programs now!

Watch this space



 


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