The Internal Revenue Service (IRS) has proposed several changes to its Voluntary Disclosure Program (VDP) that could potentially take effect later this year. If they do, they could have a significant impact on taxpayers’ decisions regarding whether to submit voluntary disclosures as well as taxpayers’ ability to avoid criminal prosecution through the program. Virginia criminal tax attorney Kevin E. Thorn, Managing Partner of Thorn Law Group, explains:

If you have willfully violated the Internal Revenue Code or withheld information about your offshore accounts or other foreign financial assets from the federal government, you may be eligible to come into compliance through the IRS’ Voluntary Disclosure Program (VDP) in 2026. But before you file, there are several important factors you need to consider. Here are some key insights from Virginia tax lawyer Kevin E. Thorn, Managing Partner of Thorn Law Group: