The tax amnesty program is an approved limited-time program by the IRS. It aims to encourage businesses and individual taxpayers with delinquent tax obligations to come forward voluntarily. This, of course, comes with certain benefits, including abatement of penalties and interests. What You Need to Know about the Tax Amnesty Program was last modified: August…
The Internal Revenue Service (IRS) is becoming stricter on residents, expats, foreign nationals, and financial institutions (foreign and local) that have been failing to properly file their taxes. To prevent, catch, or penalize any instances of non-compliance, the International Tax Compliance Regulations were set in place. Under these regulations, all foreign accounts and offshore assets…
