The Dawn of A New Day

The IRS just recently announced changes to its offshore voluntary compliance programs and it more than likely will affect you! The changes that were announced on June 18, 2014 are expected to help both taxpayers living abroad and those living within the United States come into compliance with their U.S. tax obligations.

The changes are two-fold and affect two classifications of taxpayers: those that have willfully failed to disclose foreign accounts and those who have done so innocently or without their conduct rising to the “willful” level. Specifically, the changes include an expansion of the streamlined filing compliance procedures announced in 2012. And Read More