I have not filed for more than five years. What are my options now?

By November 8, 2018

The best thing to do now is to file your income taxes right away and pay all penalties and interests before they increase. The situation is more common than you might think. You should start with an expat tax expert to identify how many years of back taxes you are to file and what documentation you need to complete the reports and returns needed to comply with the U.S. tax authorities.

Our tax consultants will be able to review your situation to test eligibility for Streamlined Offshore Filing Procedures. If eligible, you will only need to file taxes for the past three years but must also file Foreign Bank Account Reports (FBAR) for the past six years.

All U.S. citizens or a Green Card holders have a tax filing and FBAR obligation, wherever they live or work worldwide. Tax paid in the country of residence can often be used to offset taxes owed in the U.S. However, as each individual’s situation is different, it is always best to seek the advice of a professional tax preparer to help ensure full compliance with all applicable U.S. tax laws.

Aaron Fernandes

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