Tax Law Center Blog

By Parag P. Patel, Esq. | Updated October 15, 2014

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 Revenue Service published new additional guidance clarifying many details for participation in the Streamlined Filing Compliance Procedures.

Here are links to the new guidance published on the IRS website:

• Updated general description of Streamlined Filing Compliance Procedures here;
• Updated instructions for taxpayers residing in the United States here;
• Updated 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;

• 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 Streamlined Filing Compliance Procedures and the Offshore Voluntary Disclosure Program. Materials from the webinar can be downloaded here: Game Changer Streamline.

About the Author

Parag P. Patel, Esq. brings over three decades of experience to individuals and businesses facing complex tax problems. Holding advanced degrees from Georgetown University Law Center (J.D.) and New York University School of Law (LL.M. in Tax Law), the nation’s top tax programs, Mr. Patel delivers sophisticated and creative strategies in complicated federal and state audits, penalty abatements, and foreign asset/income reporting. His practice emphasizes international tax matters, specifically foreign financial account reporting (FBAR), voluntary disclosures, and penalty defense.

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