Streamlined Procedures or Voluntary Disclosure
To qualify for the Streamlined Procedures, you must be able to certify that your failure to timely file complete and correct tax returns is not due to willful conduct. If you believe your non-compliance with U.S. tax obligations is due to willful conduct, we recommend you consult with an attorney. We would be happy to recommend an attorney who is experienced in assisting U.S. taxpayers in deciding whether voluntary disclosure would be a better way to become tax-compliant.
Even if you may not meet all requirements for the streamlined procedures, not filing is not a sensible approach. If you have willfully failed to comply with tax or tax-related obligations, submitting a voluntary disclosure may be a means to resolve your non-compliance and limit exposure to criminal prosecution. The IRS recently outlined the process for voluntary disclosures following the closing of the Offshore Voluntary Disclosure Program on September 28, 2018. A timely voluntary disclosure may mitigate exposure to civil penalties. The IRS requires taxpayers to fully cooperate.
We strongly recommend that you become compliant as soon as possible. Please contact us with any questions you may have about filing a late tax return and your options to become compliant. Our tax professionals have helped many U.S. taxpayers become compliant. We guarantee swift and hassle-free preparation and filing of your U.S. tax returns.