Streamlined Filing Compliance Procedures
Streamlined Filing Compliance Procedures: When a person has undisclosed foreign accounts, assets, investment and/or income and has not previously disclosed to the IRS, they may qualify for the Streamlined Filing Compliance Procedures (SFCP).
Under these procedures, a person may qualify for a reduced 5% title 26 miscellaneous offshore penalty — or even a penalty waiver.
SFCP is also referred to as:
- Streamlined Procedures
- Streamlined Procedure
- Streamlined Offshore Procedures
- Streamlined Voluntary Disclosure
- Streamlined Disclosure
- Offshore Streamlined Filing
- IRS Streamlined Filing
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.