Allen, TX, April 16, 2011 --(PR.com
)-- CLG Professional Services (www.clgtaxpro.com), a leading provider of tax resolution services in Allen, Texas, today released a straightforward guide to handling voluntary disclosures of unreported income. The Offshore Voluntary Disclosure Initiative (OVDI) provides taxpayers who have offshore accounts an opportunity to disclose unreported income. The entire analysis of the IRS tax code can be read on the CLG Professional Services blog at http://blog.clgtaxpro.com.
Taxpayers with offshore accounts need to be aware of the new processes implemented by the IRS for 2011 filing. Failure to properly file within the OVDI parameters may result in significant penalties and possibly a criminal investigation. The information provided by CLG Professional Services will clarify the process and put taxpayers on the right path.
Timeliness is a critical component of OVDI filing, taxpayers and their representatives are strongly urged to familiarize themselves with the regulation and file their information before it’s too late. The complete article can be found at http://blog.clgtaxpro.com.
Using the IRS website www.irs.gov as their source, CLG Professional Services translated the information into language a taxpayer can easily understand.
For additional information, Contact: Chris Given, CLG Professional Services, 214-383-5690 or firstname.lastname@example.org.
CLG Professional Services is a small, local firm providing personalized tax and financial services in Texas. Since inception, CLG Professional Services has offered a complete range of tax and small business consulting services. The focus of the company is to help with every client’s unique tax and consulting needs.