Coming Out of the Dark - Streamlined Filing Procedures

Many U.S. taxpayers with foreign financial accounts and unreported offshore income find themselves out of compliance. It's not intentional, either, but simply through a lack of awareness. For these taxpayers, the IRS Streamlined Procedures offer a structured, penalty-reduced path back into compliance. One issue is that the program can be complex, and there are significant penalties for getting it wrong.

In Episode 2 of Coming Out of the Dark, Matt Eddleman walks through the Streamlined Filing Compliance Procedures from the ground up. This episode is designed for CPAs, enrolled agents, attorneys, and tax professionals advising clients with foreign financial interests. It should also be valuable for taxpayers who want to understand their options before engaging counsel.