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IRS Streamlined Amnesty 2019 – How to Apply & Who Should I Hire?

IRS Streamlined Amnesty 2019 - How to Apply & Who Should I Hire? (Golding & Golding, Board Certified Specialist)

IRS Streamlined Amnesty 2019 – How to Apply & Who Should I Hire? (Golding & Golding, Board Certified Specialist)

IRS Streamlined Amnesty 2019 – How to Apply & Who Should I Hire?

The 2019 IRS Streamlined Domestic Offshore Procedures and Streamlined Foreign Offshore Procedures are on shaky ground. These two programs were designed by the Internal Revenue Service as a temportary fix to help non-willful taxpayers get into offshore (FATCA and FBAR) compliance with unreported offshore and foreign accounts, assets, investments, & income.

IRS Streamlined Amnesty 2019

In 2019, the IRS Streamlined Program is still available (currently).

The streamlined program has been described as a Band-Aid (e.g., temporary) and the IRS has made it known the opportunity to apply will not last forever.

Who are Golding & Golding, A PLC?

We specialize exclusively in Offshore & Voluntary Disclosure.

Our lead attorney, Mr. Sean M. Golding, Board Certified Tax Law Specialist has been in practice 20 years, and is licensed to represent clients nationwide and worldwide.

His team has successfully completed more than 1000 Offshore Disclosure submissions.

What is the IRS Streamlined Program?

OVDP was the Offshore Voluntary Disclosure Program. The program did not have a separate category for applicants who were non-willful.

The Streamlined Program was introduced as an offshoot of OVDP. OVDP was ended, but VDP (traditional Voluntary Disclosure Practice) expanded its offshore disclosure submission process, to include submissions that would have previously been made under OVDP.

In 2014, the IRS developed the stand-alone Streamlined Programs to assist taxpayers who were non-willful with more “relaxed” submission requirements.

How to Apply for the IRS Streamlined Program?

The program is reserved primarily for individuals, trusts and estates. There are two programs, based on the residence of the applicant.

*Domestic is also for “Foreign Accounts.” Domestic merely refers to residence of the applicant. In other words, Domestic Streamlined submissions are for applicants who do not qualify as a “Non-U.S. Resident.”

What are the Chances of Success in the Streamlined Program?

We have submitted several hundred Streamlined cases, without ever having a client rejected from the program — but that does not mean the case is “over.”

Beware of firms touting a 100% success rate: The statute of limitations for many of these cases is 6-years, so even submissions that were made back at the inception the program in 2014, may still be considered “open.”

Can I Still be Audited for Offshore Matters?

Yes, the Streamlined Program submissions do not guarantee against a future audit.

Practice pointer: If you are audited, and you used an outside CPA (even if you were referred through an attorney), you have to hope the CPA is available, still in practice, and doesn’t charge you significantly more for representation in the audit.

How Long can the IRS still Audit Me?

Unless the IRS pursues civil fraud (which is rare), the statute of limitations in non-criminal cases is either 3-years or 6-years.

Can I be Hit with other Offshore Penalties?

If you are accepted into the IRS streamlined program, the IRS will not issue additional penalties under the current version program. If you are audited in the future, you could be at risk for additional penalties — the but IRS would have to usually show willfulness — which is not common.

What Type of Law Firm To Hire for IRS Streamlined Program?

First, you should hire a law firm to ensure you have the Attorney-Client Privilege. There is no attorney-client privilege with a non-attorney. To be an Attorney, a person must be licensed in at least one state (even if all the firm practices is Federal tax law)

The Law Firm you hire should specialize exclusively in Offshore Disclosure, not dabble it as part of their general tax practice. 

We Can Safely Get you Into IRS Offshore Compliance

It is human nature to want to avoid making a proactive submission to a government agency such as the IRS before the IRS ever discovers the non-compliance. But, typically that is best path forward.

Moreover, if you realize you are out of compliance and begin researching online, you may begin to feel as though it is hopeless.  Some of these attorneys and CPAs make it appear that everyone with unreported assets or income is going to be severely penalized and shipped off to prison.

That is simply not the case.

You have options, and depending on the facts and circumstances of your situation, your options may include the streamlined program, reasonable cause, or the delinquency procedures – which may result in significantly reduced fines and penalties (and may even receive a penalty waiver).

Golding & Golding, A PLC

We have successfully represented clients in more than 1000 streamlined and voluntary disclosure submissions nationwide, and in over 70-different countries.

We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants, and Financial Professionals across the globe.

International Tax Lawyers - Golding & Golding, A PLC

International Tax Lawyers - Golding & Golding, A PLC

Golding & Golding: Our international tax lawyers practice exclusively in the area of IRS Offshore & Voluntary Disclosure. We represent clients in 70+ different countries. Managing Partner Sean M. Golding is a Board-Certified Tax Law Specialist Attorney (a designation earned by < 1% of attorneys nationwide.). He leads a full-service offshore disclosure & tax law firm. Sean and his team have represented thousands of clients nationwide & worldwide in all aspects of IRS offshore & voluntary disclosure and compliance during his 20-year career as an Attorney.

Sean holds a Master's in Tax Law from one of the top Tax LL.M. programs in the country at the University of Denver. He has also earned the prestigious IRS Enrolled Agent credential. Mr. Golding's articles have been referenced in such publications as the Washington Post, Forbes, Nolo, and various Law Journals nationwide.
International Tax Lawyers - Golding & Golding, A PLC

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