IRS amnesty programs for late filers, including the Streamlined Procedures and voluntary disclosure.
In wholly unexpected news, the IRS has quietly shut down its Delinquent FBAR Submission Procedures (DFSP), just as it quietly ended the Delinquent International Information Return Submission…
Read MoreIn this blog, we compare the major tax amnesty programs in the United States and the United Kingdom that are available for taxpayers with unreported overseas assets and income.
Read MoreFor many taxpayers, receiving a stimulus payment from the IRS has been a vital financial lifeline during uncertain times. However, for individuals living abroad or with complex international tax…
Read MoreOver the past decade or so, the Streamlined Procedures have become the most successful amnesty program for U.S. expats looking to come into compliance with the IRS.
Read MoreU.S. expats, especially those living in low-tax jurisdictions, can face a significant IRS tax bill. Among those who owe tax, some simply don’t have the means to pay the liability.
Read MoreIn a move that didn't receive much attention in the press, the IRS this week quietly dismantled one of its tax amnesty programs related to international tax reporting.
Read MoreOn September 28, 2018, the IRS officially terminated its increasingly unpopular Offshore Voluntary Disclosure Program (OVDP), leaving willfully delinquent taxpayers open to a host of potential…
Read MoreThe great thing about participating in an IRS tax amnesty program is that a late-filing U.S. expat can catch up with little to no penalties. The challenge that lies ahead, however, is staying…
Read MoreFor a number of reasons, it has become more important than ever for expats to file their US taxes from abroad timely and accurately.
Read MoreThis past Friday, the IRS announced the opening of a brand new amnesty program aimed specifically at tax-delinquent US citizens who relinquished, or intend to relinquish, their U.S. citizenship, and…
Read MoreFor the nearly 10 million US citizens living abroad, the income tax implications of USA citizenship can be challenging, given the complexities of the rules and the scarcity of professional help in…
Read MoreThe Tax Cuts and Jobs Act (“TCJA”), encated at the end of 2017, undoubtedly brought many significant changes to the U.S. tax system. Because the TCJA changed the Tax Code in so many areas, it’s…
Read More
