Successful OVDP Opt-Out – Golding & Golding Reduces Penalty by 85%

Successful OVDP Opt-Out – Golding & Golding Reduces Penalty by 85% Successful OVDP Opt-Out – Golding & Golding Reduces Penalty by 85% Golding & Golding recently took over a case in which the clients were railroaded into OVDP by inexperienced prior counsel.   Successful OVDP Opt-Out The clients chose to Opt-Out in order to try to reduce their Offshore penalty, which was very high – especially for their particular facts and circumstances. Our team of International Tax Attorneys and Enrolled Agents (the highest credential awarded by the IRS) developed a strategy to reduce the clients’ penalties. We worked with the IRS Agent assigned to the case (who was very fair) for over a year and following the opt-out, the IRS made the determination that the clients were non-willful and reduced a nearly mid-six figure OVDP Penalty by 85% – which ended up being less than the Streamlined Penalty amount. Be Cautious of Who You Hire for OVDP Perhaps…

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