Which Form 843 Brackets 2011-2023

Hi this is anthony parents of parents and parent LLP the IRS medic and welcome to part four of our 2023 guide to IRS offshore voluntary disclosure and in this video we are going to be speaking about the five percent penalty that is included in OV DP faq 52 and just a little bit about us we are parent to parent LLP where Tax Resolution attorneys it is rumored we have the biggest offshore caseload I am not entirely sure if that's true here's a picture of myself and my father and we are based in Connecticut but yes we do have clients all around the world and so we just want to talk about this 5% standard offshore penalty most people are aware that there's the the typical penny penalty is twenty seven point five percent on the highest account value and then other then you'll see that there is a twelve point five percent penalty if the account is under seventy five thousand dollars and people see this five percent and say oh well that's the that's the amount i want it's much lower well here's the thing you can't argue for this either you qualify for it or you don't there's no negotiating down inside the offshore disclosure without without opting out to get five percent and actually if you do opt out you might do better than five percent and so we're going to run through this and you're going to show you why we think five percent it's actually too high for those who acted innocently and so let's go over some of the reasons why thing is you have to look at who qualifies okay and now one number one this is a generalized test okay it's a little bit different and there's...