August 4, 2011. IRS Amnesty: What’s Required By 8/31/11? (Forbes). Although August may not be a good time to be in Washington, DC, it’s a great time to get your tax affairs in order. The IRS offshore account program called OVDI ends August 31, 2011. Even so, you may be able to get an extension. 90-Day Reprieve. Taxpayers may request an extension if they can demonstrate a good faith attempt to comply by August 31st. The good faith attempt must include properly completed and signed agreements to extend the statute to assess tax (including tax penalties) and to assess FBAR penalties. Written extension requests must include a list of the items you’re missing, why they are not included, and the steps you’re taking to get them. Here’s the complete list of submission items…
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