IRS Announces Newest Version of Its Comprehensive Voluntary Disclosure Program: Analyzing the Evolution over Five Years



The IRS is now carrying out various enforcement campaigns. This has increased interest by taxpayers in pro-actively approaching the IRS to resolve matters on the most favorable terms possible. The IRS offers multiple programs designed to allow taxpayers to rectify specific types of non-compliance, but it has just one general program covering all types of violations, even those involving willful or possibly criminal wrongdoing. This program, called the updated voluntary disclosure practice (“UVDP”), was introduced by the IRS in 2018 and later modified in 2020 and 2022. This article explains the worldwide tax and information-reporting duties of U.S. persons, summarizes the current IRS programs available, and analyzes the five-year evolution of the UVDP.

Read the full article here.

About Hale E. Sheppard
HALE E. SHEPPARD, Esq. (B.S., M.A., J.D., LL.M., LL.M.T.) is a Shareholder in the Tax Controversy Section of Chamberlain Hrdlicka and Chair of the International Tax Group.

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