Introduction: Streamlined Procedure As an attorney specializing in international tax law, it is crucial to understand the consequences and available options for individuals who have failed to file their Foreign Bank and Financial Accounts (FBAR) reports. Failure to comply with FBAR reporting requirements may result in severe penalties. Fortunately, the Internal Revenue Service (IRS) offers
Streamlined Procedures
Complying with International Tax Reporting Requirements – Streamlined Procedures May Help
Streamlined Procedures – What Is It and Who Does It Assist? Streamlined Procedures may provide non-tax-compliant US citizens a remedy when the conduct was non-willful. The Streamline includes procedures and terms for filing amended or delinquent returns and for resolving open tax and penalty obligations. Part of the process includes filing three years of income