With Bright!Tax, The Streamlined Procedure is an IRS approved amnesty program that allows Americans overseas to catch up with their US tax filings without facing any penalties nor any undue scrutiny by the IRS. Bright!Tax and its team of expert American CPAs has perfected the Streamlined Procedure to make the online process simple and very straightforward for countless clients worldwide.
To catch up using the Streamlined Procedure you must:
The IRS defines non-willful as conduct that is due to negligence, inadvertence, or mistake or conduct that is the result of a good faith misunderstanding of the requirements of the law.
Our headline IRS Streamlined Procedure package of $957 includes 3 tax returns, as required. If you have to file FBARs for any of the last 6 years too (required in years when you had over $10,000 in foreign accounts), add $79/ year. So a maximum 3 tax returns and 6 FBARs costs $1,431.
Since the US law called FATCA (the Foreign Account Tax Compliance Act) was enacted in 2010, most foreign banks (over 300 thousand and counting) are now providing their American account holders’ balance and contact details to the IRS, so the IRS now has unprecedented and global reach. Catching up using the Streamlined Procedure gives US expats the opportunity to avoid IRS fines while retro-claiming the exemptions allowing them to minimize their US tax liability – most often to zero.
Bright!Tax exclusively employs full time, American trained and licensed expat tax specialist CPAs, many of whom also have MBAs in economics or tax law.
We have perfected our workflow model to ensure that your experience is concise, simple, and ultra-responsive. You may always communicate with us in real time.
We appreciate that every client is unique. Your Bright!Tax CPA will discuss your circumstances with you before formulating a tax strategy to save you money.
Our proprietary, Award Winning Online Client Organizer makes providing us with your information much easier. Our Award Winning Mobile App meanwhile allows you to file from your phone, if you prefer. No other firm offers you these innovations.