Australian Couple Living in Washington DC Consult Kevin E. Thorn for their IRS Voluntary Disclosure Needs
A couple with reporting obligations to both Australia and the United States came to Kevin E. Thorn for help with the voluntary disclosure of their foreign bank accounts to the IRS. Mr. Thorn advised that they submit their IRS voluntary disclosure through the IRS’s Streamlined Filing Compliance Procedures and guided them through the process of properly reporting their foreign income via FBARs. This decision saved the couple a substantial amount of money in tax, interest, and fees as well from a potential IRS investigation. The couple received a 0% penalty and was able to return to their normal lives fully informed on how to stay in compliance with U.S. Tax Law.