<link rel="stylesheet" href="//fonts.googleapis.com/css?family=Exo:100,200,300,regular,500,600,700%7CRaleway:300,regular,600,700%7COpen+Sans:300,300italic,regular,italic,600,600italic%7CMontserrat:300,300italic,regular,italic,600,600italic">You searched for sfop - Tax, Estate Planning & Probate Law Center

Streamlined Filing Compliance Procedure’s New Revisions to Streamlined Foreign Offshore Procedures (SFOP)

- By : Parag Patel

…file under the Streamlined Domestic Offshore Procedures (SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). This article focuses on the SFOP. The Internal Revenue Service (IRS) recently modified the non-willfulness…

Details of the Streamlined Foreign Offshore Procedures (SFOP)

- By : Parag Patel

…(SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). This article focuses on the SFOP. The Internal Revenue Service (IRS) recently modified the non-willfulness certification form that individual taxpayers must submit…

ABA COMMENTS ON THE 2014 OFFSHORE VOLUNTARY DISCLOSURE PROGRAM AND THE STREAMLINED PROGRAMS

- By : Parag Patel

…Program (“SDOP”), and the Streamlined Foreign Offshore Program (“SFOP”). The comments are very constructive and excellent. It is hped that the IRS carefully considers and adopts many of the comments….

New IRS Disclosure Program Announced for Non-Resident Taxpayers: Streamlined Foreign Offshore Procedures

- By : Parag Patel

…The IRS has announced a Streamlined Foreign Offshore Procedures (SFOP), which will significantly alter all future voluntary disclosures. The SFOP is a game changer for non-resident and resident (who would…

2018 ABA COMMENTS ON THE OFFSHORE VOLUNTARY DISCLOSURE PROGRAM AND THE STREAMLINED PROGRAMS

- By : Parag Patel

…Streamlined Domestic Offshore Program (“SDOP”), and the Streamlined Foreign Offshore Program (“SFOP”). We co-authored the ABA comments. The comments are very constructive. It is hoped that the IRS carefully considers…

IRS Releases Training Documents on Offshore Voluntary Disclosure Program

- By : Parag Patel

…avoid criminal tax prosecution. The OVDP’s current penalty is 27.5 percent. However there are other alternatives available to certain taxpayers that may provide additional relief, including the SDOP and SFOP

Article Discusses Termination of Offshore Voluntary Disclosure Program (OVDP) and the Streamlined Filing Compliance Procedures (SFCP)

- By : Parag Patel

…US residents (Streamlined Domestic Offshore Procedures or “SDOP”) and one for non-US residents (Streamlined Foreign Offshore Procedures or “SFOP”). Each program has its own set of tailored procedures and eligibility…

Taxpayers’ Evidence of Non-Willfulness or Willfulness Factors

- By : Parag Patel

We have come across the below 3 questions numerous times with our clients. What kind of evidence is relevant to demonstrate “non-willfulness” for purposes of the SDOP and the SFOP

New Report: Delinquent Taxpayers Could be Identified at US Border Crossings

- By : Parag Patel

…(non-resident SFOP and domestic SDOP). For those taxpayers who do not meet the eligibility requirements of the Streamline Procedures there is the offshore voluntary disclosure program (OVDP 2014). Share this:…

New Streamlined Domestic Offshore Procedures (SDOP) is a Game Changer

- By : Parag Patel

…use the Streamlined Foreign Offshore Procedures (SFOP)) taxpayers alike. The SDOP liberalizes the old rules and rewards non-willful taxpayers to disclose offshore assets with minimal tax and a lower penalty….

IRS announces new Streamlined Filing Compliance Procedures

- By : Parag Patel

…penalty) Streamlined procedures for non-residents are referred to as the Streamlined Foreign Offshore Procedures (SFOP). These taxpayers will qualify for a 5 percent penalty as long as they have filed…

Watch Out for Letters From Your Foreign Bank Requesting Information On Your U.S. Residency

- By : Parag Patel

…large penalty or face criminal prosecution. We often recommend that U.S. taxpayers with undisclosed overseas accounts enter into the IRS’s new Streamlined Program (SDOP or SFOP) or Offshore Voluntary Disclosure…

Major changes to IRS offshore voluntary compliance programs

- By : Parag Patel

…certification program, referred to as the IRS Streamlined filing compliance procedures (SDOP and SFOP); Under this program, taxpayers residing in the United States whose failure to report foreign financial assets…

What Is The Difference Between the SDOP and the Current OVDP program?: Willfulness

- By : Parag Patel

What Is The Difference Between the SDOP and the Current OVDP program? The Streamlined Offshore Procedures (SDOP and SFOP) liberalizes the old restrictions and rewards taxpayers that disclose their offshore…

IRS Streamlines its Streamlined Offshore Procedures with More User Friendly Forms

- By : Parag Patel

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…

Hiding Money or Income Offshore Among the “Dirty Dozen” List of Tax Scams for the 2015 Filing Season

- By : Parag Patel

…program will be open for an indefinite period until otherwise announced. The IRS also announced its SDOP and SFOP last year for non-willful cases. Share this: Print More WhatsApp Tweet…

IRS Clarifies Requirements for Streamlined Filing Procedures

- By : Parag Patel

…New Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing Outside the United States (SFOP) Frequently Asked Questions and Answers (FAQs) here. Our firm recently presented a informational webinar on the…

News from the 2014 Criminal Fraud and Tax Controversy Conference

- By : Parag Patel

…were in attendance. Below are some interesting observations: On the new IRS Streamlined program (including the SDOP and SFOP programs), David Horton LB&I director for international compliance (who is in…

New IRS Subpoenae and IRS Data Mining Expected

- By : Parag Patel

…disclosure of offshore assets. The OVDP, SDOP and SFOP compliance programs should be considered with experienced legal counsel. Patel Law Offices has consulted with hundreds of clients regarding their offshore…

New Warnings in the IRS’ Streamlined Filing Compliance Procedures

- By : Parag Patel

…Offshore Procedures (SDOP) (for U.S. residents) or Form 14653–Certification by U.S. Persons Residing Outside of the United States for Streamlined Foreign Offshore Procedures (SFOP) (for non-U.S. residents). The streamlined filing…

A solution in a tough tax season: the IRS Streamlined Offshore Procedures

- By : Parag Patel

…file under the Streamlined Domestic Offshore Procedures (SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). Our firm has recently received many inquiries regarding these new IRS Streamlined Offshore Procedures. These…

New IRS guidance Announced for IRS Streamlined Offshore Procedures.

- By : Parag Patel

…file under the Streamlined Domestic Offshore Procedures (SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). Our firm has recently received many inquiries regarding these new IRS Streamlined Offshore Procedures. These…

Streamlined Filing Compliance Procedure’s New Revisions to Streamlined Domestic Offshore Procedures (SDOP)

- By : Parag Patel

…file under the Streamlined Domestic Offshore Procedures (SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). This article focuses on the SDOP, which is for taxpayers who reside in the United…

Happy Birthday Streamlined Filing Compliance Procedure!

- By : Parag Patel

…the disclosure of foreign assets. SFCP has two sub-programs: one for US residents (Streamlined Domestic Offshore Procedures or “SDOP”) and one for non-US residents (Streamlined Foreign Offshore Procedures or “SFOP”)….

Details of the Streamlined Domestic Offshore Procedures

- By : Parag Patel

…(SDOP) or the Streamlined Foreign Offshore Procedures (SFOP). This article focuses on the SDOP, which is for taxpayers who reside in the United States. The Internal Revenue Service (IRS) recently…