Skip to Main Content

Scott Michel Quoted in Tax Analysts, Practitioners Assess Offshore Initiative as Deadline Approaches

August 15, 2011, Tax Notes
Excerpt taken from article.

The IRS's offshore voluntary disclosure initiative (OVDI) hasn't been as popular as the original offshore voluntary disclosure program (OVDP) from 2009, but taxpayers with unreported foreign accounts and their advisers are working toward the August 31 deadline to make submissions to the second amnesty program.

The reporting and withholding requirements of the Foreign Account Tax Compliance Act have stung some U.S. taxpayers who live abroad: They have found themselves being unceremoniously dumped by their local banks in anticipation of what Scott D. Michel, a partner at Caplin & Drysdale, referred to as the coming "era of automatic disclosure".

Click here to read about the second amnesty program for undeclared offshore accountholders.

About Caplin & Drysdale
Celebrating our 55th Anniversary in 2019, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022


This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
©2021 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practice Area(s)