Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR, talks about the ending of the Offshore Voluntary Disclosure Program and urges anyone with an offshore account to make it known to the IRS before program closes to avoid looking like tax evader.
Fairhope, AL, September 24, 2018: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently posted a new article on his website entitled “IRS Offshore Voluntary Disclosure Program Ending This Month,” in which Mr. Willis urges compliance.
Willis writes, “Okay taxpayers, it’s time to ‘fess up if you have any offshore accounts. I mean personal or business.” He continues adding, “First of all, let me assure you that it’s not illegal to have offshore accounts. It is however, illegal not to report them to the IRS.”
As Willis points out, “Many people do have offshore accounts for a variety of reasons.” He elaborates, “Those who establish offshore accounts are not always attempting to avoid paying taxes nor are they necessarily engaging in any other illegal activities. Very often having an offshore account is simply a method of diversifying political risk by putting liquid savings in sound, well-capitalized institutions where they are treated best. And some people have long-standing accounts that were established before they came to the states.”
“So, for those of you who’ve become American citizens and have had personal accounts in your home country for decades,” says Willis, “it’s time to at least let the IRS know about it. If your tax preparer never asked about foreign accounts, you’re not going to be accused of willful non-disclosure.”
“There is a difference between willful non-disclosure and non-willful,” Willis writes. He further elaborates, “If you are trying to avoid paying taxes, that is willful. If you are unaware of the obligation to report offshore accounts, that is innocent and non-willful non-disclosure. The IRS will not pursue you for criminal activity if you simply come forward.”
According to Willis, “The reason I’m urging you to reveal any accounts to the IRS now is that their Offshore Voluntary Disclosure Program (OVDP) will end on September 28th. You still have a little time to come into compliance so that the IRS will not think you are trying to hide money.”
The entire article can be read at: http://www.irsallstar.com/blog/irs-offshore-voluntary-disclosure-program-ending-this-month.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 19 years and he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities.
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.