SFP-Streamlined Filing Compliance Procedures

The streamlined filing compliance procedures give detailed information to the taxpayers. This certifies why their foreign financial assets report and paying all dues in respect of those assets failed to result from dedicated conduct. All streamlined procedures are designed in such a way that helps the taxpayers stuck in situations with

· Streamlining a procedure for filing amended or delinquent returns, and

· Tax and penalty resolving procedure for filing amended or delinquent returns, and

· Terms for resolving their tax and penalty obligations.

Benefits of SFP

· Fewer penalties (5%)

· Penalty only on Year End (December 31)

· balance

· Quick turnaround time

· Less compliance years involved than other programs