Delinquent International Information Return Submission Procedures
Delinquent International Information Return Submission Procedures: When a person has unreported accounts, assets or investments, but does not have unreported income requiring changes to a tax return filing, the person may qualify for the Delinquent International Information Return Submission Procedures (DIIRSP).
These procedures are difficult to qualify for, because if a person has sufficient unreported income that requires prior tax returns (that fall within the compliance period) to amended, they typically do not qualify for the DIIRSP.
Instead, (presuming they are non-willful), the applicant submits to the streamlined procedure or a reasonable cause statement.
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.