Author Archives: Andrew Aldridge


The IRS is targeting high-income taxpayers who have not complied with their tax obligations. As part of a larger effort to ensure compliance and fairness, the Internal Revenue Service said on February 19th that it will step up efforts to visit high-income taxpayers who have failed to timely file one or more of their tax returns. The IRS has recently hired additional enforcement personnel, […]

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 […]

IRS Announces End to Offshore Voluntary Disclosure Program

Update: Further to the post below, we have posted an outline of the penalties taxpayers may face after the below September deadline. Yesterday (Wednesday, March 14th, 2018) the IRS announced that it is ramping down the Offshore Voluntary Disclosure Program (OVDP) and that the program will end on September 28th of this year. This is […]

Overdue Taxes Can Jeopardize US Passport

The Internal Revenue Service announced on 16 January 2018 that they strongly encourage taxpayers who are behind on their taxes to pay the amount owed or enter into a payment agreement with the IRS if the amount owed is more than $50,000 to avoid putting their US passport into jeopardy. The Fixing America’s Surface Transportation […]

Top 10 things US citizens abroad should know about their taxes

The US tax system is complex to say the least, and individual variables for each person are what makes the preparation of each tax return unique. Hard as it is to believe in the current climate, there are still Americans living abroad who do not think they have to file tax returns to the IRS at all, […]

New US Law May Put Non Compliant Taxpayers’ Citizenship at Risk

Some Americans abroad are rushing to give up their US citizenship, while others want to hold onto their passports. In the end, no one wants to have a gut wrenching experience and be forced into a decision they don’t want to make. However, the tax laws won’t stop changing. On Dec. 3, the US Congress […]

UK Disclosure: UK Budget starts the beginning of the end of the LDF

Since the August 2009 announcement of an agreement between HM Revenue & Customs (“HMRC”) and the Government of the Principality of Liechtenstein, the LDF (“Liechtenstein Disclosure Facility”) has been the most painless route to disclosure for many UK resident individuals with previously undisclosed offshore income and assets. Originally set to run until April 2016 the […]

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