IRS Clarification on Non-Willful Conduct Certification for Streamlined Offshore Compliance Procedures (Massachusetts Tax Alert)
Thursday, February 26, 2015
Many U.S taxpayers are often surprised to discover that they have a U.S. tax reporting obligation on financial accounts or assets held overseas. One option of reporting such obligations, if the taxpayers meet the requirements, is to submit either IRS Form 14654 or IRS Form 14653 for the Streamlined Domestic Offshore Procedures or the Streamlined Foreign Offshore Procedures, respectively. Download our analysis below.