Are you an American living in Canada who has never filed U.S. tax returns? How about F-bars? You may be in trouble as the IRS may take extreme measures to penalize these taxpayers. Luckily, SDG Accountant specializes in assisting Americans living in Canada in compliance with the IRS. We will assist in not only back filing your U.S. tax returns and F-bars, but we also assist in avoiding any negative consequences as a result thereof.
By some estimates, only 30% of American taxpayers living in Canada are in tax compliance with the IRS. Most are unaware of their filing obligations, in that global income must be reported on their tax returns. This is especially true for Americans living in Canada. SDG Accountants has offices on both sides of the border, in Toronto and Miami.
In response to this non-compliance trend, the IRS launched the Streamlined Compliance Procedure (or “SCP”). The SCP is one of two primary offshore disclosure amnesty programs; the other is the Offshore Voluntary Disclosure Program (or “OVDP”). The purpose of the SCP is to become tax compliant with the IRS while avoiding the hefty penalties that the IRS is notoriously known for... [read more]