Aug 7, 2018 | Filing Your Taxes Late
This week’s question comes from a US citizen living overseas. He hasn’t filed a tax return in years! He wants to know what the maximum penalty applicable to the late filing of his tax returns would be. I will try to bring a little rainbow in the world of...
Apr 1, 2018 | Filing Your Taxes Late
The Internal Revenue Service finalized the plan to close the 2014 Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. A taxpayer with intentionally undisclosed foreign assets or income could come forward to pay tax, interest, and penalties. The...
Dec 14, 2017 | Filing Your Taxes Late
What are the IRS Tax amnesty programs for US expats? If you haven’t caught up with your US expat taxes for a while, IRS Tax amnesty program is the legal and safe way to get back on track. Many taxpayers who fell behind their taxes are afraid to start the...
Aug 1, 2017 | Filing Your Taxes Late
Many U.S. expats do not know that they have to file their tax returns while living abroad. The IRS introduced few amnesty programs and one of them is called “Streamlined Procedures”. In today’s infographics we cover all necessary facts that you need...
Oct 23, 2015 | Filing Your Taxes Late
This post is for those who have friends who might not be tax compliant. My goal is to put a little bit of perspective so that you know instances in which your friend is ok. The IRS has programs such the “Streamlined Foreign Offshore procedures” to remove any penalty. ...
Sep 10, 2014 | Filing Your Taxes Late
This is the manual used by IRS agents to basically do their job, the IRM is here. The interesting part is that somebody submitted amended returns (1040X) with more than 5 informational returns (defined as Forms 3520, 3520-A, 5471, 5472, 8938, 926, or 8621) would be...
