Robert E. McKenzie continues to offer insights on IRS' Offshore Voluntary Disclosure Program
Arnstein & Lehr Chicago Partner Robert E. McKenzie continues to be a highly sought expert on the Internal Revenue Services Offshore Voluntary Disclosure Program. He was interviewed last week for an article that appeared online on the Bloomberg News BNA website. The article, “Dozens With Bank Leumi Accounts Rejected From OVDP After Acceptance” appeared online on March 12. The article reviews how the IRS has notified dozens of taxpayers who were previously accepted into its offshore voluntary disclosure program that they have been disqualified from participation. Mr. McKenzie noted in the piece that nearly all the taxpayers had accounts at the Tel Aviv-based Bank Leumi. He also pointed out that he discovered that as many as 40 other taxpayers with Bank Leumi accounts had been disqualified. The development comes as IRS focuses increasing attention on Israel as a potential location of hidden assets.
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