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Taxation: US IRS issues offshore guidance in eight languages
The USA's Inland Revenue Service has issued information sheets on the 2011 Offshore Voluntary Disclosure Initiative in eight languages so as to make sure those for whom English is not a first language have no excuse for saying they don't understand what to do. The OVDI (as it's is termed) is for those taxpayers with undisclosed offshore accounts.
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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 until 31 August, 2011.
The news release, announcing the agency's terms for its offshore voluntary disclosure initiative was translated into Chinese ( Traditional and Simplified [ http://www.irs.gov/pub/newsroom/ir-2011-14_s_chinese.pdf ]), Farsi [ http://www.irs.gov/pub/newsroom/ir-2011-14_farsi.pdf ], German [ http://www.irs.gov/pub/newsroom/ir-2011-14_german.pdf ], Hindi, Korean [ http://www.irs.gov/pub/newsroom/ir-2011-14_korean.pdf ], Russian [ http://www.irs.gov/pub/newsroom/ir-2011-14_russian.pdf ], Spanish [ http://www.irs.gov/newsroom/article/0,,id=235750,00.html ] and Vietnamese [ http://www.irs.gov/pub/newsroom/ir-2011-14_vietnamese.pdf ].
And no, we don't know why there is no link to the Hindi version.
Taxpayers participating in the new initiative must file all original and amended tax returns and include payment for taxes, interest and accuracy-related penalties by the 31 August deadline.
Complete information about this initiative including all of the translations can be found by typing the term 'voluntary disclosure' on IRS.gov , says the IRS.
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