\n<\/p>\n
<\/iframe><\/p>\n<p>\u00a0<\/p>\n<div id=\"attachment_26488\" style=\"width: 270px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.irsstreamlinedprocedures.com\"><img decoding=\"async\" aria-describedby=\"caption-attachment-26488\" loading=\"lazy\" class=\"size-medium wp-image-26488\" src=\"https:\/\/www.irsstreamlinedprocedures.com\/wp-content\/uploads\/2024\/11\/Streamlined-Filing-Compliance-Procedures-with-Examples-260x300.png\" alt=\"Streamlined Filing Compliance Procedures with Examples\" width=\"260\" height=\"300\" srcset=\"https:\/\/www.irsstreamlinedprocedures.com\/wp-content\/uploads\/2024\/11\/Streamlined-Filing-Compliance-Procedures-with-Examples-260x300.png 260w, https:\/\/www.irsstreamlinedprocedures.com\/wp-content\/uploads\/2024\/11\/Streamlined-Filing-Compliance-Procedures-with-Examples-768x887.png 768w, https:\/\/www.irsstreamlinedprocedures.com\/wp-content\/uploads\/2024\/11\/Streamlined-Filing-Compliance-Procedures-with-Examples.png 887w\" sizes=\"auto, (max-width: 260px) 100vw, 260px\"\/><\/a><\/p>\n<p id=\"caption-attachment-26488\" class=\"wp-caption-text\">Streamlined Filing Compliance Procedures with Examples<\/p>\n<\/div>\n<h2><span id=\"Streamlined_Filing_Compliance_Procedures\"><span style=\"color: #000000;\"><strong>Streamlined Filing Compliance Procedures<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">When a Taxpayer is a <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/u-s-person-vs-u-s-citizen-irs-offshore-tax-on-foreign-income\/\">U.S. person for tax purposes<\/a><\/span> and has not previously reported their foreign income on their U.S. tax returns and failed to file accurate <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/irs-international-tax-form-guide-2019-5-irs-forms-you-should-know\/\">international information reporting forms<\/a><\/span>, they may be subject to extensive <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/irs.gov\">IRS<\/a><\/span> fines and penalties. \u00a0Some of the more common international reporting forms that Taxpayers may be aware of are the <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/everything-about-fbar-to-report-foreign-bank-financial-accounts\/\">FBAR<\/a><\/span> (<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"http:\/\/fincen.gov\">FinCEN Form 114<\/a><\/span>) and <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/form-8938-irs\/\">FATCA Form 8938<\/a><\/span> (Foreign Account Tax Compliance Act). Non-willful Taxpayers who have not yet been penalized and are not under audit may qualify for the <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.irs.gov\/individuals\/international-taxpayers\/streamlined-filing-compliance-procedures\">Streamlined Filing Compliance Procedures<\/a> to get into compliance and minimize or avoid penalties.<\/span>\u00a0 The streamlined procedures have two different programs: Streamlined Domestic Offshore Procedures (SDOP) and Streamlined Foreign Offshore Procedures (SFOP). <\/span><span style=\"color: #000000;\">Let\u2019s walk through the basics of both the domestic and foreign Streamlined Filing Compliance (Offshore) Procedures.<\/span><\/p>\n<p><span style=\"color: #000000;\"><em>*For all examples, please note that the Taxpayers are U.S. persons for tax purposes who have not made any treaty elections to be treated as a Non-Resident Alien (NRA). Also, these examples are for illustrative purposes only and Taxpayers should consult with a Board-Certified Tax Law Specialist if they have specific questions about their reporting requirements and not rely on this article for legal advice.<\/em><\/span><\/p>\n<h2><span id=\"Non-Willfulness_Requirement\"><span style=\"color: #000000;\"><strong>Non-Willfulness Requirement<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">The most important aspect of qualifying for the Streamlined Filing Compliance Procedures (domestic or offshore) is that the filer is <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/ovdp-willful-vs-non-willful-golding-international-tax-attorneys\/\">non-willful<\/a><\/span>. Taxpayers will find a lot of information online explaining the difference between willful and non-willful \u2014 and unfortunately many of those resources are inaccurate or designed to simply fear-monger unsuspecting Taxpayers:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Adam is a U.S. citizen who has been living in the United States his entire life. His grandfather lives overseas and when his grandfather passed away he left Adam money in two different foreign bank accounts. These are the only foreign accounts that Adam has and other than these two foreign accounts Adam\u2019s tax return is relatively straightforward. He has not made any deposits or withdrawals from the account and only very recently learned about the reporting requirements. Adam should qualify as non-willful.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Adrian is an L-1 visa holder who recently relocated to the United States a few years ago. When he relocated to the United States he began using a local CPA who claimed to be knowledgeable in international tax. \u00a0Adrian had several foreign accounts and assets that he told the CPA about, but the CPA told Adrian there was nothing he needed to do because he was not a permanent resident or a citizen. Adrian relied on this information and only recently learned that he was required to report this information to the IRS in prior years. Adrian should qualify as non-willful.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Alicia is a lawful permanent resident who has been filing tax returns for the past several years. A few years ago she learned that she was supposed to report her foreign accounts on the FBAR and Form 8938 but chose not to do so because she did not want to have to pay any penalty. When Alicia\u2019s CPA asked her if she had any foreign accounts, she told the CPA no \u2014 even though she was aware she had foreign accounts and that they were required to be reported. Alicia would not qualify as non-willful.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Taxpayer_is_Not_Under_Audit_or_Already_Penalized\"><span style=\"color: #000000;\"><strong>Taxpayer is Not Under Audit or Already Penalized<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">To be eligible for the streamlined procedures, the Taxpayer must not be under audit or already penalized regarding the foreign accounts.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example:<\/u> Brian is a U.S. citizen who learned earlier in the year that he had foreign accounts that were required to be reported to the U.S. government on the FBAR and Form 8938. He was planning on submitting under the streamline procedures but in the interim, he found himself under IRS examination \u2014 including for one of the years involving the foreign accounts. Brian would now be ineligible for the streamlined procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Brenda is a lawful permanent resident who received a foreign gift but was unaware that she had to report the foreign gift on <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/irs-form-3520-beginners-guide-foreign-gift-inheritance\/\">Form 3520<\/a><\/span> until very recently. She was also unaware that she was required to report the foreign accounts that the gift was deposited into. Before learning about the streamlined procedures, Brenda\u2019s accountant submitted a late form 3520 and she received a CP15 notice. Since Brenda has already been penalized, she may not be eligible for the streamlined procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Domestic_Streamlined_Filing_Requirements\"><span style=\"color: #000000;\"><strong><em>Domestic Streamlined Filing Requirements<\/em><\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Some additional Domestic Streamlined Offshore Procedures requirements include:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\">Having filed timely original returns; and<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\">Paying a 5% Title 26 Miscellaneous Offshore Penalty.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Previously_Timely_Filed_US_Tax_Returns\"><strong>Previously <em>Timely<\/em> Filed U.S Tax Returns\u00a0<\/strong><\/span><\/h2>\n<p><span style=\"color: #000000;\">To qualify for the Streamlined Domestic Offshore Procedures, Taxpayers must have filed timely tax returns when they were due. While the IRS may provide some leeway as to what is considered \u2018timely,\u2019 they have been known to be very strict about the prior filings having been made on time.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Frank is a U.S. Citizen who previously filed U.S. tax returns timely, but he did not include his foregin interest income because it is tax-exempt overseas and he was unaware he was required to include it on his U.S. tax return \u2014 or File a Form 8938. Frank should qualify for the Streamlined Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Fred is a Lawful Permanent Resident who filed his tax returns in October in each of the past three (3) years but was on extension. He was unaware he had to report foreign income, FBAR or Form 8938. Since he was on extension, Fred should qualify for the Streamlined Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Felicia is a U.S. Citizen who was required to file U.S. tax returns but did not do so. She recently learned she was required to file returns and report her foreign income. She does not qualify for the Streamlined Foreign Offshore Procedures, because she resides in the U.S. Unfortunately, Felicia would not qualify for the Streamlined Procedures since she did not file timely U.S. tax returns at the time they were due.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"5_Title_26_Offshore_Penalty_Instead_of_Multiple_FBARForm_8938_Penalties\"><span style=\"color: #000000;\"><strong>5% (Title 26) Offshore Penalty Instead of Multiple FBAR\/Form 8938 Penalties<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Taxpayers can avoid the extremely harsh FBAR and Form 8938 penalties by submitting to the Streamlined Domestic Offshore Procedures. In place of FBAR and Form 8938 penalties, Taxpayers pay a single, 5% of Title 26 Miscellaneous offshore penalty. The penalty is based on the highest 12\/31 aggregate value and not the highest value throughout the year.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Matthew submitted to the Streamlined Domestic Offshore Procedures and failed to file FBAR and Form 8938 in multiple years. The maximum 12\/31 value of his accounts and assets is $160,000. His SDOP penalty would be $8,000 instead of potentially $150,000+ if he was audited and penalized.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Michelle submitted to the Streamlined Domestic Offshore Procedures and had several accounts with very high balances throughout the year, but the 12\/31 maximum value for all accounts combined was $90,000. Her SDOP penalty would be $4,500.\u00a0<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><u>Example<\/u>: Miranda is considering submitting to the Streamlined Domestic Offshore Procedures but her 12\/31 maximum value is $7,000,000. Her penalty would be $350,000 but she believes she may qualify for Reasonable Cause and a penalty waiver. Miranda may consider alternative to the Streamlined Domestic Offshore Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Exceptions_to_the_5_Penalty\"><span style=\"color: #000000;\"><strong>Exceptions to the 5% Penalty<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">While most assets are subject to the Title 26 Miscellaneous Offshore Penalty, some accounts and assets may be excluded from the penalty base.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Tim submits to the Streamlined Domestic Offshore Procedures. He has $800,000 in RRSP and $150,000 in TFSA and Foreign Accounts. Even though the total value is $950,000, the RRSP may be exempt from the penalty computation \u2013 reducing the penalty from $45,000 to $7,500.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Tonya submits to the Streamlined Domestic Offshore Procedures. She has a foreign bank account with a maximum 12\/31 value of $80,000 and 5 rental properties she individually owns. Since the rental real estate is individually owned, it is excluded from the penalty base so that her SDOP penalty would be $4,000.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: \u00a0Ted submits to the Streamlined Domestic Offshore Procedures. He has 7 rental properties but he does not own them individually. Rather, they are all owned in a foreign corporation. Unfortunately for Ted, the value of the foreign corporation may be subject to the SDOP penalty.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Foreign_Streamlined_Filing_Requirements\"><span style=\"color: #000000;\"><strong><em>Foreign Streamlined Filing Requirements<\/em><\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Some additional Foreign Streamlined Offshore Procedures requirements include:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\">Qualifying as a Foreign Resident.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"Foreign_Resident_330-Day_Rule_or_Substantial_Presence_Test\"><span style=\"color: #000000;\"><strong>Foreign Resident 330-Day Rule or Substantial Presence Test<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">The benefit of the Streamlined Foreign Offshore Procedures compared to the Streamlined Domestic Offshore Procedures is that Taxpayers who qualify for the Streamlined Foreign Offshore Procedures are not penalized (they are also eligible to file original tax returns which they are not able to do under the Streamlined Domestic Offshore Procedures). But to qualify for the Streamlined Foreign Offshore Procedures, the Taxpayer must qualify as a foreign resident:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Charlene is an H-1B visa holder, but only just started to meet the substantial presence test last year. Recently, she learned that she was required to report her foreign accounts. Since she is not a U.S. citizen or lawful permanent resident and is still a visa holder \u2014 and did not meet the <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/substantial-presence-test-irs\/\">substantial presence test<\/a><\/span> in at least one of the three years included in her streamlined foreign application \u2014 she may qualify for the Streamlined Foreign Offshore Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Christopher is a lawful permanent resident who has been living in a foreign country for the past five years. He has several foreign accounts and assets but was unaware that he was required to report this information to the U.S. government since he lives overseas and all of his money is sourced in a foreign country. Since Christopher has been out of the United States for at least 330 days in the last year, he should also qualify for the Streamlined Foreign Offshore Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<li>\n<blockquote>\n<p><span style=\"color: #000000;\"><span style=\"text-decoration: underline;\">Example<\/span>: Charlie is a lawful permanent resident who travels back and forth between the United States and different foreign countries. He recently learned that he should have been reporting his foreign pension plan and bank accounts on his U.S. tax return. He has been out of the country for 365 days but it was not in the same 12-month year, but instead split over two years. Since Charlie was not out of the United States for at least 330 days in a single tax year, the IRS takes the position that he does not qualify for the Streamlined Foreign Offshore Procedures.<\/span><\/p>\n<\/blockquote>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span id=\"No_Title_26_Offshore_Penalty_under_SFOP\"><span style=\"color: #000000;\"><strong>No Title 26 Offshore Penalty under SFOP<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">One of the key benefits of qualifying for the Streamlined Foreign Offshore Procedures is that Taxpayers are exempt from having to pay any Title 26 miscellaneous offshore penalty. This means that the Taxpayer can circumvent penalties such as FBAR penalties and Form 8938 Penalties. In recent years, the IRS has discussed eliminating this program and so especially for Taxpayers who qualify for the Streamlined Foreign Offshore Procedures, they should consider getting into compliance while the program is still available.<\/span><\/p>\n<h2><span id=\"SFOP_Allows_for_Original_Tax_Return_Filing\"><span style=\"color: #000000;\"><strong>SFOP Allows for Original Tax Return Filing<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Another key benefit to the streamlined foreign offshore procedures is that, unlike the Streamlined Domestic Offshore Procedures, in the streamlined foreign program Taxpayers are eligible to file original tax returns. Therefore, Taxpayers who have not filed tax returns for multiple years can file tax returns under the Streamlined Foreign Offshore Procedures and safely get into compliance \u2014 whereas under the Streamlined Domestic Offshore Procedures, non-willful Taxpayers cannot file original returns and are only eligible to amend previously filed timely returns.<\/span><\/p>\n<h2><span id=\"Late_Filing_Penalties_May_be_Reduced_or_Avoided\"><span style=\"color: #000000;\"><strong>Late Filing Penalties May be Reduced or Avoided<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">For Taxpayers who did not timely file their FBAR and\/or other international information-related reporting forms, the IRS has developed many different <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.fbarlawyersirs.com\/fbar-amnesty-program\/\">offshore amnesty programs<\/a><\/span> to assist Taxpayers with safely getting into compliance. These programs may reduce or even eliminate international reporting penalties.<\/span><\/p>\n<h2><span id=\"Current_Year_vs_Prior_Year_Non-Compliance\"><span style=\"color: #000000;\"><strong>Current Year vs. Prior Year Non-Compliance <\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Once a Taxpayer missed the tax and reporting (such as <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.fbarlawyersirs.com\/fbar-fatca-comparison-differences\/\">FBAR and FATCA<\/a><\/span>) requirements for prior years, they will want to be careful before submitting their information to the IRS in the current year. That is because they may risk making a<span style=\"color: #0000ff;\">\u00a0<\/span><a style=\"color: #000000;\" href=\"https:\/\/www.goldinglawyers.com\/irs-quiet-disclosure\/\"><span style=\"color: #0000ff;\">quiet disclosure<\/span><\/a> if they just begin filing forward in the current year and\/or mass filing previous year forms without doing so under one of the approved IRS offshore submission procedures. Before filing prior untimely foreign reporting forms, Taxpayers should consider speaking with a <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/tax-specialist-is-your-attorney-a-certified-tax-law-specialist\/\">Board-Certified Tax Law Specialist<\/a><\/span> who specializes exclusively in these types of offshore disclosure matters.<\/span><\/p>\n<h2><span id=\"Avoid_False_Offshore_Disclosure_Submissions_Willful_vs_Non-Willful\"><span style=\"color: #000000;\"><strong>Avoid False Offshore Disclosure Submissions (Willful vs Non-Willful)<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">In recent years, the IRS has increased the level of scrutiny for certain <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.irsstreamlinedprocedures.com\/streamlined-filing-compliance-procedures-taxpayer-options\/\">streamlined procedure<\/a><\/span> submissions. When a person is non-willful, they have an excellent chance of making a successful submission to Streamlined Procedures. If they are willful, they would submit to the <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/irs-voluntary-disclosure-program-offshore\/\">IRS Voluntary Disclosure Program<\/a><\/span> instead. But, if a willful Taxpayer submits an intentionally false narrative under the Streamlined Procedures (and gets caught), they may become subject to <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.irsstreamlinedprocedures.com\/false-streamlined-filing-has-criminal-tax-consequences\/#:~:text=false%20streamlined%20filing-,False%20Streamlined%20Filing%20Leads%20to%20Criminal%20Prosecution%20for%20Rahman,Quiet%20Disclosure%20and%20is%20illegal.\">significant fines and penalties<\/a><\/span>.\u00a0<\/span><\/p>\n<h2><span id=\"Need_Help_Finding_an_Experienced_Offshore_Tax_Attorney\"><span style=\"color: #000000;\"><strong>Need Help Finding an <em>Experienced <\/em>Offshore Tax Attorney?<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">When it comes to hiring an\u00a0<em>experienced<\/em>\u00a0<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/\">international<\/a>\u00a0<\/span>tax attorney to represent you for\u00a0<a style=\"color: #000000;\" href=\"https:\/\/www.goldinglawyers.com\/unreported-foreign-accounts\/#:~:text=Unreported%20Foreign%20Accounts%3A%20U.S.%20persons,bank%20accounts%2C%20assets%20%26%20investments.\"><span style=\"color: #0000ff;\">unreported foreign and offshore account reporting<\/span>,<\/a> it can become overwhelming for Taxpayers trying to trek through all the false information and nonsense they will find in their online research. There are only a handful of attorneys worldwide who are\u00a0<em>Board-Certified Tax Specialists<\/em>\u00a0and who specialize\u00a0<strong>exclusively<\/strong> in offshore disclosure and international tax amnesty reporting.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">*This resource may help Taxpayers seeking to hire offshore tax counsel: <em><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/how-to-pick-the-right-offshore-disclosure-tax-lawyer\/\">How to Hire an Offshore Disclosure Lawyer<\/a><\/span>.<\/em><\/span><\/p>\n<h2><span id=\"Golding_Golding_About_Our_International_Tax_Law_Firm\"><span id=\"Golding_Golding_About_Our_International_Tax_Law_Firm\" style=\"color: #000000;\"><strong>Golding & Golding: About Our International Tax Law Firm<\/strong><\/span><\/span><\/h2>\n<p><span style=\"color: #000000;\">Golding & Golding\u00a0<strong>specializes exclusively<\/strong>\u00a0in international tax, specifically\u00a0<strong>IRS offshore disclosure<\/strong>.<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.goldinglawyers.com\/contact-us-3\/\">Contact our firm today<\/a>\u00a0<\/span>for assistance.<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Streamlined Filing Compliance Procedures with Examples Streamlined Filing Compliance Procedures When a Taxpayer is a U.S. person for tax purposes and has not previously reported their foreign income on their U.S. tax returns and failed to file accurate international information reporting forms, they may be subject to extensive IRS fines and penalties. \u00a0Some of […]<\/p>\n","protected":false},"author":1,"featured_media":129514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[15442,13722,42925,56447],"dealstore":[],"offerexpiration":[],"class_list":["post-129513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-compliance","tag-filing","tag-procedures","tag-streamlined"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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