Some tax filing relief for expats starting September 1st.
The kinder, friendlier IRS just announced a special program to reduce the filing requirement stress of expats who didn't know that they had to file. Starting September 1st, they are launching a special program for "low compliance risk" taxpayers that will allow you to file the last 3 years of tax returns and the last 6 years of FBARS, if required, penalty free!
So the 6 year filing statute is in essence being put on hold...so filing the last years and paying a minimal tax due with interest takes you "off the hook" for all prior years. All you have to do is provide a reasonable explanation, pass the review process, and "poof" the IRS is off your back.
Keep in mind that this new procedure only applies to "low compliance risk" tax payers...those who owe little or no tax.
The kinder, friendlier IRS just announced a special program to reduce the filing requirement stress of expats who didn't know that they had to file. Starting September 1st, they are launching a special program for "low compliance risk" taxpayers that will allow you to file the last 3 years of tax returns and the last 6 years of FBARS, if required, penalty free!
So the 6 year filing statute is in essence being put on hold...so filing the last years and paying a minimal tax due with interest takes you "off the hook" for all prior years. All you have to do is provide a reasonable explanation, pass the review process, and "poof" the IRS is off your back.
Keep in mind that this new procedure only applies to "low compliance risk" tax payers...those who owe little or no tax.