While many countries don’t tax citizens who live and work overseas, the United States does not offer this treatment to expatriates. As long as you…
Streamlined Filing Compliance for Overseas Taxpayers
The Streamlined Filing Compliance Procedures (“Streamlined Procedures”) offer even more favorable treatment for taxpayers living overseas. Unlike domestic taxpayers, foreign taxpayers will not be required…
Streamlined Filing Compliance for Domestic Taxpayers
The Streamlined Filing Compliance Procedures (“Streamlined Procedures”) are one voluntary disclosure option for taxpayers with unreported foreign financial accounts. There are separate procedures for taxpayers…
Who Needs to File an FBAR?
A United States person with a financial interest or signature authority over a foreign financial account must file an FBAR if the aggregate value of…
Foreign Bank Account Disclosure Options
You have three main options to disclose unreported foreign bank accounts to the IRS: You can simply file the delinquent Foreign Bank Account Reports (FBARs)…