OVDI FAQ No. 25 provides that the entire OVDI package must be submitted on or before August 31, 2011 to:
Internal Revenue Service
3651 S. I H 35 Stop 4301 AUSC
Austin, TX 78741
ATTN: 2011 Offshore Voluntary Disclosure Initiative
The FAQ doesn't state that the OVDI package must be received by Aug. 31st, simply that it must be "submitted" by that date, so presumably if it is mailed by Aug. 31st that will be sufficient. The countdown is based upon the last Fedex drop off time near the offices of Brager Tax Law Group, A P.C. in Los Angeles, California of 6:45 PM.
The other problem is that FAQ No. 25, presupposes that a taxpayer has received a preliminary clearance pursuant to FAQ No. 24 from the IRS Criminal Investigation Division (CI). According to the IRS OVDI Hotline at (267) 941-0020, however, if an offshore account holder is in a time crunch he should obtain a pre-clearance from CI, and then send the document package to Austin, Texas once the pre-clearance has been received. Our tax attorneys have been receiving pre-clearances in 24 to 48 hours, but your mileage may vary.
Keep in mind that the oral advice from the OVDI Hotline is not binding on the IRS, and it is important to keep updated on a regular basis with the IRS' changing directives, and whims.