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IRS & Financial· 6 min read

Streamlined Foreign Disclosure — Coming Into Compliance Without Penalties

Streamlined Filing Compliance Procedures let non-willful taxpayers fix unreported foreign accounts without the heavy OVDP penalty.

The IRS Streamlined Filing Compliance Procedures address taxpayers whose failure to report foreign assets or income was non-willful. SFOP for residents abroad, SDOP for US residents — each has different penalty exposure.

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