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IRS Announces New Clarifying FAQs for Streamlined Offshore Compliance Program

The IRS updated its streamlined offshore compliance program to provide procedures taxpayers residing both inside and outside the United States should use to participate in the program. The streamlined offshore compliance program is for taxpayers whose failure to comply with requirements to report

IRS Releases FAQs for the Delinquent International Information Return Submission Procedures

The IRS recently released frequently asked questions for the Delinquent International Information Return Submission Procedures (available here). The IRS now states that these procedures are available to taxpayers even if they have unreported income. See below quote: The Delinquent International Information

IRS Clarifies Requirements for Streamlined Filing Procedures

Our office has received many inquiries from taxpayers interested in the Streamlined Filing Compliance Procedures with the new lower penalty.  However IRS guidance and instructions was unclear and ambiguous in certain areas.  Last week, on October 9, 2014, the Internal

IRS Streamlines its Streamlined Offshore Procedures with More User Friendly Forms

The IRS has just recently updated the Streamlined Procedure forms for both its “foreign” (SFOP) and “domestic” (SDOP) procedures. All of the information can now be typed directly into the fields. The statement of facts can be cut and pasted