Tax Quarry

August 26, 2011 OVDI Update:

Due to the potential impact of Hurricane Irene, the IRS has extended the due date for offshore voluntary disclosure initiative requests until Sept. 9, 2011.

In order to participate and be eligible for the 2011 OVDI, a taxpayer must submit their name, address, date of birth and Social Security number and should submit as much of the other information on the three-page Offshore Voluntary Disclosures Letter as possible on or before Sept. 9, 2011. An incomplete Offshore Voluntary Disclosures Letter must be amended (with the addition of any missing information) and submitted as quickly as possible.

A taxpayer may request an extension of the deadline to complete his or her submission. Taxpayers requesting extensions must submit their name, address, date of birth and Social Security number and should submit as much of the requisite information as possible with their written request for extension.

Requests for up to a 90-day extension must include a statement of those items that are missing, the reasons why they are not included, and the steps taken to secure them.  Requests for extensions must be made in writing and sent to the Austin Campus on or before Sept. 9, 2011 to:

Internal Revenue Service

3651 S. I H 35 Stop 4301 AUSC

Austin, TX 78741

ATTN: 2011 Offshore Voluntary Disclosure Initiative