Delinquent tax returns and IRS amnesty: The basics
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 Published On May 15, 2017

Attention Global Entrepreneurs and Investors! Is the IRS dragging you down? Text “Wealth” to 818-293-4857. Anthony's firm, Parent & Parent LLP can help end your tax anxiety and frustration right now! We do it all so you can focus on better things. 20 successful years experience in tax planning, tax resolution (including audits!), bookkeeping, asset protection, and offshore disclosures/FBAR help. Everything you need under one roof. Thousands helped!

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Having delinquent unfiled taxes is actually quite common. In this video, Anthony and Claudine talk about the options if you have unfiled taxes, are missing tax records, or unfiled international reporting forms, like the FBAR or FATCA Form 8938.

This issue is getting more attention since the law passed saying that your passport can be revoked or denied if you have unpaid tax debt.

Watch this video to learn the answers to these questions:

“I’ve been unfiled for 3-4 years. How long before they do an SFR on me?”

How much time does the IRS have to come after you for unfiled returns?

What if you file, then find out you owe, and you can’t afford?

What are the tax settlement options?

What if I file my returns and find out the IRS owes me money?

The IRS hasn’t contacted me about my unfiled tax returns. Why should I bother?

What if I don’t have any records, how can I file my return?

What if my unfiled returns include foreign accounts?

There are programs that you can get into for unfiled foreign reporting requirements such as FBARs and IRS Form 8938. The IRS has been targeting overseas accounts as of late, so it's best to get into compliance sooner than later.


From our experience, most people with unreported accounts are not criminals. They are simply US taxpayers who don't realize they have to tell the IRS about accounts they have in other countries.


Once you realize you have a reporting obligation, contact us for help. There are penalties for non-reporting. There are "willful" penalties, and "non-willful" penalties. The difference is staggering, and once you know the obligation exists and you knowingly dodge the requirement, you become "willful".



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