Technical Tax Blog

 


International Tax – New Streamlined Filing Compliance
Program

As reflected below, the streamlined filing procedures that were first offered on September 1, 2012 have been expanded and modified to accommodate a broader group of U.S. taxpayers. Major changes to the streamlined procedures include:

  • extension of eligibility to U.S. taxpayers residing in the United States
  • Elimination of the $1,500 tax threshold, and
  • elimination of the risk assessment process associated with the streamlined filing compliance procedure announced in 2012.

The modified streamlined filing compliance procedures are designed only for individual taxpayers, including estates of individual taxpayers. The streamlined procedures are available to both U.S. individual taxpayers residing outside the United States and U.S. individual taxpayers residing in the United States. Descriptions of the specific eligibility requirements for the streamlined procedures for both non-U.S. residents (the "Streamlined Foreign Offshore Procedures") and U.S. residents ("Streamlined Domestic Offshore Procedures") are set forth below.

Amicas Group assists numerous taxpayers in catching up with their tax affairs under the current Streamlined Program. If you have questions about the new Streamlined Program and need help with such reporting, please contact Jason Bitner by email at jason@amicasgroup.com or by phone on 08 9330 8790 or 0488 020 286.