The Streamlined Filing Procedure – take advantage!
The IRS has expanded Streamlined Filing Procedures to include people living in the United States who unintentionally failed to report interest, dividends and other income from foreign financial accounts on their U.S. tax returns.
To qualify for the streamlined program, taxpayers must certify that their failure to disclose offshore assets or income was non-willful. But unlike a separate amnesty offer called the Offshore Voluntary Disclosure Program, it does not grant the taxpayer immunity from criminal prosecution. If you qualify to participate in the program, the delinquent tax returns and informational filings, such as forms Form 3520 and Form 8938 must be filed for the previous three years, and FBARs for the previous six years.
If you have a submission presenting higher risk, we may recommend filing under the Offshore Voluntary Disclosure Program (OVDP), formerly OVDI.
Book your FREE consultation today with a Trusted Tax Advisor at Capital Protection Alliance at http://capitalproalliance.com/helpstep1_expats_tax/ assessment of your situation, IRS audit help, minimization of the IRS penalties, and a peace of mind.