A terrific read on what Streamlined is and when Streamlined can be used without going to the more over reaching OVDP Offshore Voluntary Compliance Program, including some facts that may not support non-willful behavior.g The Pitfalls of Streamlined Foreign Account Disclosures Tax professionals, and also the general public, well knowClick here for more
Archive for the ‘Streamlined’ Category.
Recently, many tax return preparers have learned that a number of their clients failed to report their interest in a foreign bank account, corporation or trust to the IRS. Because the Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions to report their U.S. depositors to the IRS, theClick here for more
An Alternative to Streamlined It can take months to get a nonfiler back into compliance with the IRS. By Jim Buttonow, CPA/CITP November 7, 2016 – See more at: http://www.journalofaccountancy.com/newsletters/2016/nov/bring-nonfiler-bac-into-compliance.html?utm_source=mnl:cpainsider&utm_medium=email&utm_campaign=07Nov2016#sthash.dIzdEUNS.dpuf The IRS estimates that more than 7 million individual taxpayers didn’t file a 2010 tax return. The IRS basesClick here for more
Written by Phil Bradford Are you an American expat who owe money to the IRS? Or, are you thinking of escaping your US tax debt by moving abroad? If so, then beware! The IRS won’t leave you without grabbing its money. It’s because, the US has tax treaties with moreClick here for more