At Universal Tax Professionals, we specialize in helping Americans living abroad get caught up with their US taxes without owing fines or penalties. The IRS has several amnesty programs to help Americans who moved abroad and failed to file their US taxes or filed their US taxes incorrectly. We have helped hundreds of clients in all situations get caught up to date with their US taxes.
The Streamlined Offshore Filing Procedures is one of the most popular amnesty programs for Americans who live abroad and did not know they needed to file US taxes. Under the Streamlined Filing Compliance Procedures, the specific IRS requirements to catch up with delinquent filings include filing the previous three years of delinquent federal Tax Returns and the previous six years of FBARs and a certification of non-willfulness. As of June 2014, the IRS has waived all late filing and FBAR penalties for taxpayers whose lack of filing was non-willful. This means that even if you owe taxes, you would not owe any penalties for those taxes. The IRS is also giving out Covid stimulus payments if you meet the income requirements.
Contact us today for our full flat rate price list and a list of the next steps to get caught up to date with your US taxes.