Form 14653: Streamlined Foreign Offshore Procedure

As forward-thinking and beneficial as FATCA is, there are certainly some downsides to it. The first one is the fact that the IRS streamlined filing compliance procedures that it carries are quite complex. Besides the FBARs, taxpayers must also deal with added paperwork in every instance of a property sale, passive income gain, and similar transactions. To combat the increased complexity, the IRS developed something known as the IRS streamlined procedure…

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