02/05/2016
Expat Briefing – Major changes to the Internal Revenue Service’s offshore voluntary compliance program have been welcomed by American Citizens Abroad. The program is offered to overseas American citizens that have not deliberately failed to abide by their tax obligations. ACA said that the changes, effective from July 1, 2014, demonstrate that the IRS has […]
02/05/2016
The IRS has declared filing three years back taxes is adequate for most US expat tax filers who are delinquent and there shall be no penalties for late FBARs (Foreign Bank Account Reports) from those who were unaware of the requirement to file. This brings a clarity and welcome relief to many American expatriates who […]
02/05/2016
Big Data and an ever aggressive approach by the IRS toward ferreting out Americans living abroad who are not current with their US tax filing has, so far, not yielded the results that the US government hoped for. With a tax system that is based largely upon voluntary compliance, the United States wields a big […]