FATCA, Foreign Information Returns And The IRS Statute Of Limitations For Americans Abroad

<p>March 24, 2023 - Participants include:</p> <p> </p> <p>Virginia La Torre Jeker - <a href='https://www.twitter.com/vljeker'>@VlJeker</a></p> <p>John Richardson - <a href='https://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p>________________________________________________</p> <p>Taxes are a huge source of anxiety for Americans abroad. One concern is always:</p> <p>How long does the IRS have to audit me after I have filed?</p> <p>On March 23, 2023 Virginia La Torre Jeker published a post discussing this very issue.</p> <p><a href='https://us-tax.org/2023/03/23/tax-statutes-of-limitation-run-fast-irs-is-right-behind-you/'>https://us-tax.org/2023/03/23/tax-statutes-of-limitation-run-fast-irs-is-right-behind-you/</a></p> <p>This podcast is a nice summary of the post.</p> <p> The bottom line is that:</p> <p>The failure to file various "foreign information returns" will extend the "statute of limitations" - the time that the IRS as to instigate an audit.</p> <p>Interesting the<a href='http://citizenshipsolutions.ca/2023/03/16/biden-2024-green-book-message-to-accidental-americans-either-comply-or-renounce/'> 2024 Biden Green Book</a> contains provisions to tighten the noose even further!</p> <p> </p>