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Author Archives: Andrew Aldridge & Sam Hallowell

About Andrew Aldridge & Sam Hallowell

Andrew Aldridge is a Tax Director with USTAXFS. Sam Hallowell is a Senior Tax Associate with USTAXFS.

OVDP Closure: Penalties Breakdown

Further to our announcement that the IRS will be shutting down the Overseas Voluntary Disclosure Program, we outline below some of the penalties taxpayers may face after the September OVDP closure date: A penalty for failing to file a tax return – The penalty is 5 percent of the balance due, plus an additional 5 […]

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