If you missed the June 15th tax deadline there are a number of steps you can take to get back on track. We are expert on assisting US expats on all of their tax matters and concerns.
In order to get compliant with your US taxes, there are a number of steps you should take.
Step 1: Determine if you should use an IRS Amnesty Program
If you have only missed the most recent tax-filing deadline, your best move is likely to be filing as quickly as possible to avoid penalties and interest on tax owed. However, for those who are behind by over a year and were unaware of their filing requirements, the Streamlined Filing Procedure is often your best option.
Under the Streamlined Filing Procedure, you are required to file 3 US tax returns and 5 FBARs.
Step 2: File your late tax return
Once you have identified the most appropriate method of approaching your backdates US tax returns, it is important to take action immediately and file your tax returns. This is to avoid penalties and interest.
Step 3: Remain Compliant
Once you are all caught up on your US taxes, it is important to ensure you install a proper routine and procedure for your US tax filing in order to ensure that you remain compliant and avoid the harsh penalties of the IRS.