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What is IRS Form 14653? Form 14653 is officially known as the Certification by US Person Residing Outside of the United States for Streamlined Foreign Offshore Procedures. Completing and submitting it is a requirement when filing using the Streamlined Filing program.
Using IRS Streamlined Domestic Offshore Procedures, youll pay just one penalty amounting to 5% of the value of the offshore assets. This is charged in lieu of all other potential penalties. SDOP allows qualifying, non-willful taxpayers to come into compliance without fear of criminal charges.
Using IRS Streamlined Domestic Offshore Procedures, youll pay just one penalty amounting to 5% of the value of the offshore assets. This is charged in lieu of all other potential penalties.
Form 14653 Instructions On the certification statement, include the specific years for which you are filing, the amount of tax owed for each year, and any interest due. Its important to note that you do not report your foreign income on this statement, but rather the tax and interest owed.
To complete your Streamlined Filing, you will need to submit the following: The most recent three (3) years of late federal tax returns. The most recent six (6) years of FBAR forms (foreign bank account reporting). Your signed Certification by US Person Residing Outside of the US statement (Form 14653).
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The Title 26 miscellaneous offshore penalty is equal to 5 percent of the highest aggregate balance/value of the taxpayers foreign financial assets that are subject to the miscellaneous offshore penalty during the years in the covered tax return period and the covered FBAR period.
The IRS Streamlined Filing Compliance Procedures is an amnesty program designed to allow people who were unaware of their filing requirements to come forward penalty free and get up to date on their expat taxes.

form 14653 2023