Tax Attorney Expats Not in Compliance with Streamline Disclosure
Living as an expatriate from the United States can often be burdensome once it becomes time to report your taxes. It is normal to be concerned about whether you are complying with streamlined disclosure or any other tax laws that may apply to you. Fortunately, you do not have to handle your tax matters alone. If you or a family member is a United States expatriate that needs legal assistance with streamline disclosure, contact an experienced tax attorney for U.S. expatriates as soon as possible.
The NewPoint Law Group, LLP has worked with many U.S. expatriates on a variety of international tax law issues, and we would be pleased to represent you. Our firm understands the stress that may come from filing complex tax forms, and we are here to ensure that you are in compliance with streamlined disclosure procedures. To schedule a confidential legal consultation to discuss your tax liability, contact the NewPoint Law Group, LLP at 800-358-0305. You could also use our online submission form to schedule your appointment with one of our skilled tax attorneys.
How Streamline Disclosure Compliance Works for US Expats
The purpose of streamline filing compliance procedures is to provide taxpayers with an opportunity to explain to the Internal Revenue Service (IRS) that their failure to report foreign financial income and pay taxes associated with that income was not intentional.
Streamline disclosure procedures allow a U.S. expatriate taxpayer to file an amended or past due tax return. Additionally, the streamlined procedures will also provide the terms for handling delinquent tax returns and other related tax penalties. Our firm could help you get started on filing your tax returns if you failed to file taxes for your foreign assets on time.
The IRS introduced streamline filing procedures on September 1, 2012. Since that time, there have been some changes to how this reporting method works. For instance, U.S. taxpayers that live within the country are now eligible for streamline filing. Also, the IRS removed the $1,500 tax threshold and a previously necessary risk assessment process for streamline filing.
To learn more about eligibility for streamline filing compliance, you should continue reading and speak with an experienced tax attorney for U.S. expatriates today to manage your tax liability.
US Expat Eligibility for Streamline Filing Compliance Procedures
In order for U.S. expatriates to become eligible for streamline filing procedures, there are a number of requirements that must be met. U.S. expatriates must prove the following if they wish to be eligible for Streamlined Foreign Offshore Procedures.
Expatriate Taxpayers Must Prove Their Conduct Was Not Willful
As mentioned, expatriate taxpayers must show that they did not purposely avoid reporting their foreign income to the IRS. According to the IRS, a U.S. expatriate must prove that their “non-willful conduct” was the result of negligence, a mistake, or a good faith misunderstanding of the law. For example, if you believed that the tax code did not require that you report the foreign income in question, this may be a valid ground to qualify for streamline filing.
Payment of Previous Penalties
If you are eligible to use streamlined filing procedures and you previously filed an amended or delinquent return in regard to your foreign assets, you could still use this method to report your foreign income. However, if you have any penalties remaining from a previous streamline filing, those penalties must be paid completely before you could file again.
Valid Taxpayer Identification Number
A U.S. expatriate that wants to utilize streamlined filing procedures must possess a valid Taxpayer Identification Number (TIN). If you are a U.S. citizen, resident alien, or another type of U.S. person, the TIN you would use would be your Social Security Number (SSN). If you are not eligible to receive an SSN or TIN, you cannot make use of streamlined filing procedures to report your foreign income. In some cases, you may be able to file using streamlined procedures while simultaneously completing a TIN application.
Penalties for Failing to Report Foreign Income on US Expat Tax Return
If you failed to report your foreign income and you are concerned about whether your negligent conduct could result in criminal liability, you should waste no time in speaking with an experienced Roseville tax attorney.
The NewPoint Law Group, LLP could help you avoid criminal liability for your delinquent tax returns through the IRS Criminal Investigation Voluntary Disclosure Practice. Disclosing your foreign income through this program may allow you to avoid criminal penalties for your mistake. We recognize the many burdens facing U.S. expatriates that have to report foreign income, and we are here to address your concerns. We could help you resolve any international tax law issues that arose regarding your foreign income.
Work with Our Experienced Tax Lawyer for US Expats Who are Not in Compliance with Streamline Disclosure
If you live as a U.S. expatriate and you are not in compliance with streamline disclosure, you should contact an experienced tax lawyer for streamline disclosure compliance for U.S. expatriates. The NewPoint Law Group, LLP possesses a plethora of experience handling many types of international tax law issues, and we are committed to providing you with the legal representation you deserve. To schedule a confidential legal consultation with one of our dedicated Sacramento tax attorneys, call the NewPoint Law Group, LLP at 800-358-0305. You may also contact the firm online to schedule your confidential consultation.