EXPAT SERVICES
COMPARING TAX AMNESTY PROGRAMS
|
||||
Streamlined Domestic Offshore Procedures (SDOP) |
Streamlined Foreign Offshore Procedures (SFOP) |
Delinquent International Information Return Submission Procedures (DIIRSP) |
Voluntary Disclosure Program (VDP) |
|
| USE THIS PROGRAM TO: | ||||
| File amended tax returns to include previously undisclosed foreign financial assets 1 |
|
|
|
|
| File missing tax returns 1 |
|
|
||
| File missing FBARs and other information returns |
|
|
|
|
| Report previously undisclosed tax documents and information, including details of foreign financial assets |
|
|||
| Pay tax on previously undisclosed worldwide income 2 |
|
|
|
|
| YOU’RE ELIGIBLE FOR THIS PROGRAM IF: | ||||
| You live in the US |
|
|
|
|
| You live outside the US 3 |
|
|
|
|
| You’re an individual taxpayer |
|
|
|
|
| You’re a taxpayer representing a company |
|
|
||
| You’re not under audit or criminal investigation |
|
|
|
|
| You haven’t already been contacted by the IRS for delinquent returns |
|
|
|
|
| You’re able to certify non-willful conduct to explain why you failed to disclose foreign financial assets |
|
|
||
| You’re able to demonstrate reasonable cause to explain why you failed to disclose foreign financial assets |
|
|||
| You failed to disclose foreign financial assets due to willful conduct |
|
|||
Notes:
- To use SDOP you MUST have timely filed original tax returns for the last 3 years. You CAN’T use SDOP to file delinquent tax returns.
- You can only use DIIRSP if you DON’T need to make any substantive changes to your tax return, that would impact your tax liability.
- You can only use SFOP if you lived outside the US for at least 330 days in one or more of the last 3 years.