USA Tax update - Voluntary Disclosure

The IRS announced on the 8th of March 2011 that it has made available information in eight foreign languages about the 2011 Offshore Voluntary Disclosure Initiative (OVDI) for those taxpayers with undisclosed offshore accounts. The agency took this step to reach taxpayers whose primary language may not be English.

The IRS is offering people with undisclosed income from offshore accounts an opportunity to participate in a new, voluntary disclosure initiative to get current on their tax returns.
The 2011 OVDI will be available only through Aug. 31, 2011

The news release, announcing the agency’s terms for its offshore voluntary disclosure initiative was translated into Chinese ( Traditional and Simplified), Farsi, German, Hindi, Korean, Russian, Spanish and Vietnamese.

Learn more on the IRS website