Five Common Streamlined Filing Compliance Procedure Mistakes to Avoid

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(Updated from our 2020 Article): The IRS (stand-alone) streamlined filing procedures are approaching their 9th year. The standalone procedures were developed in 2014 -- and were originally part of OVDP (Offshore Voluntary Disclosure Program). Our firm (Golding & Golding) is one of the main tax and law firms worldwide that represents clients exclusively in streamlined filing/offshore disclosure and compliance matters - in over 80 countries. Unlike other more general practice tax law firms, our international tax law specialist team specializes exclusively in Offshore Disclosure and Compliance. We have counseled thousands of individuals on issues involving FBAR, FATCA, PFIC, and more. We have also inherited a significant number of clients who were misled by inexperienced counsel, CPAs, and other tax professionals. Here are five (5) preventable streamlined filing mistakes that we see all too often.