For U.S. taxpayers who have failed to report foreign financial accounts and offshore assets, but whose failure was non-willful, the Streamlined Filing Compliance Procedures provide a structured path to compliance with reduced penalties. ¹ The procedures, introduced in 2014 and modified in 2018, have helped tens of thousands of taxpayers come into compliance. For our international and dual-citizen clients, this is one of the most useful penalty mitigation tools the IRS offers.

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