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

March 24, 2023 - Participants include:

 

Virginia La Torre Jeker - @VlJeker

John Richardson - @Expatriationlaw

________________________________________________

Taxes are a huge source of anxiety for Americans abroad. One concern is always:

How long does the IRS have to audit me after I have filed?

On March 23, 2023 Virginia La Torre Jeker published a post discussing this very issue.

https://us-tax.org/2023/03/23/tax-statutes-of-limitation-run-fast-irs-is-right-behind-you/

This podcast is a nice summary of the post.

The bottom line is that:

The failure to file various "foreign information returns" will extend the "statute of limitations" - the time that the IRS as to instigate an audit.

Interesting the 2024 Biden Green Book contains provisions to tighten the noose even further!