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San Jose, CA international tax return compliance lawyerU.S. taxpayers are required to comply with a wide variety of tax laws, but understanding these complex requirements can sometimes be difficult, especially for those who own international assets or earn income from foreign sources. Taxpayers may be required to file multiple different types of forms related to foreign assets, accounts, and income, and those who have not met their foreign investment reporting requirements may be concerned about the possibility that they may face a tax audit and be subject to penalties. Fortunately, the IRS has provided procedures that taxpayers can follow to file delinquent international tax returns.

DIIRS Procedures

The IRS encourages taxpayers to voluntarily comply with its requirements for reporting foreign income and assets and paying any delinquent taxes that are owed. In some cases, taxpayers may be able to participate in the Streamlined Compliance program and use the Streamlined Domestic Offshore Procedures (SDOP) or Streamlined Foreign Offshore Procedures (SFOP) to disclose any unreported foreign assets or income and pay taxes that are owed. Depending on whether a person qualifies for the domestic or foreign procedures, they may also be assessed a penalty.

For those who do not need to use the streamlined compliance procedures to become compliant with their requirements, the IRS offers another program known as the Delinquent International Information Return Submission (DIIRS) Procedures. Taxpayers may qualify for this program if they have not filed one or more international information returns, they are not facing a civil examination or criminal investigation by the IRS, and they have not already been contacted by the IRS about the delinquent forms.

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