Streamlined Filing Explained | Avoid FBAR Penalties & Get Compliant with the IRS

Описание: If you have unreported foreign income or missed filing FBARs, you’re not alone. Many U.S. taxpayers, including expats, dual citizens, and individuals with foreign bank accounts, fall out of compliance without realizing it. The good news is that the IRS created a program specifically for these situations. It’s called the Streamlined Filing Compliance Procedures, and when used correctly, it can help taxpayers fix past mistakes while significantly reducing penalties.

In this video, Verni Tax Law explains how streamlined filing works, who qualifies, and what you need to know before taking action.

Streamlined filing is designed for taxpayers whose failure to report foreign income or file required international forms was non-willful. That means the mistake happened due to negligence, misunderstanding, or lack of awareness, not intentional tax evasion. The IRS recognizes that international tax rules are complex, which is why this program exists.

Under the streamlined program, eligible taxpayers generally need to file:

The last three years of amended or delinquent tax returns

The last six years of FBARs (FinCEN Form 114)

A formal non-willful certification statement

There are two versions of the program:

Streamlined Foreign Offshore Procedures (SFOP) for taxpayers living outside the U.S.

Streamlined Domestic Offshore Procedures (SDOP) for taxpayers living in the U.S.

The difference matters because penalty treatment is very different. Foreign filers often qualify for zero penalties, while domestic filers may face a 5% penalty on certain foreign assets. Choosing the wrong path or filing incorrectly can result in penalties, audits, or even rejection by the IRS.

This video breaks down:

What streamlined filing really is and what it is not

Who qualifies and who does not

Common mistakes that cause IRS rejection

Why “quiet disclosure” is risky

How FBAR penalties can escalate if handled incorrectly

When streamlined filing is appropriate and when other disclosure options may be safer

One of the biggest mistakes taxpayers make is assuming streamlined filing is just paperwork. It’s not. The non-willful certification is a sworn statement. If the IRS later determines the facts don’t support it, penalties can increase dramatically. That’s why professional review matters.

At Verni Tax Law, streamlined filings are handled with an attorney-led approach. Every case is reviewed for eligibility, risk exposure, and long-term compliance strategy before anything is submitted to the IRS. The goal is not just to file, but to file correctly, defensibly, and safely.

If you’ve missed FBARs, foreign income reporting, or international tax forms, this video will help you understand whether streamlined filing is the right solution for your situation.

Watch the full video to understand your options and avoid costly mistakes before contacting the IRS.

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