Search Results for: sdop
New Report: Delinquent Taxpayers Could be Identified at US Border Crossings
…Streamline Procedures (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)….
IRS Clarifies Requirements for Streamlined Filing Procedures
…instructions for taxpayers residing outside the United States here; New Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing in the United States (SDOP) Frequently Asked Questions and Answers (FAQs) here;…
What Is The Difference Between the SDOP and the Current OVDP program?: Willfulness
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
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…
Major changes to IRS offshore voluntary compliance programs
…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…
Watch Out for Letters From Your Foreign Bank Requesting Information On Your U.S. Residency
…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…
IRS announces new Streamlined Filing Compliance Procedures
…reside outside the U.S. ($0 penalty) Streamlined procedures for U.S. residents are referred to as the Streamlined Domestic Offshore Procedures (SDOP). This program is for U.S. citizens or permanent residents…
New IRS Disclosure Program Announced for Non-Resident Taxpayers: Streamlined Foreign Offshore Procedures
…use the Streamlined Domestic Offshore Procedures (SDOP)) taxpayers alike. The SFOP significantly expands the old Streamlined Program for Non US-residents, which was narrowly only for non-filers with less than $1500…
New Streamlined Domestic Offshore Procedures (SDOP) is a Game Changer
…explore the SDOP and consider filing a carefully drafted SDOP submission. The IRS detailed announcement of the SDOP follows below: Eligibility for the Streamlined Domestic Offshore Procedures In addition…