The Streamlined Foreign Offshore Procedure offers a limited-time opportunity to resolve past non-compliance for U.S. taxpayers living abroad. By filing three years of tax returns and six years of FBARs, qualified individuals can avoid substantial failure-to-file penalties, which can easily reach five figures or more.
This program won't be available forever. We strongly urge expats who qualify to take advantage of this opportunity as soon as possible to gain peace of mind and avoid future financial penalties.