US expat tax experts, Greenback Expat Tax Services, embrace major changes to IRS amnesty programs because it will help millions of US expats become compliant with US taxes
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The IRS announced major changes to the Streamlined Filing Procedures which eliminate penalties for delinquent filers and remove specific restrictions to allow more US taxpayers the opportunity to become compliant with their US tax obligations.
Specifically, the changes include:
- Extension of eligibility to US taxpayers residing in the United States
- Eliminating a requirement that the taxpayer have $1,500 or less of unpaid tax per year
- Elimination of the risk assessment process
- Requiring the taxpayer to certify that previous failures to comply were due to non-willful conduct.
- Waiving of all penalties for US taxpayers living abroad
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