IRS Form 14654

IRS Form 14654 is used when submitting documents for the Streamlined Offshore Voluntary Disclosure Program.  The video below has been prepared by a tax attorney at The McGuire Law Firm to provide additional information regarding the Form.  You can contact The McGuire Law Firm to speak with a tax attorney regarding your tax matters, including foreign tax accounts and assets.

Forms Filed With the Streamlined Offshore Voluntary Disclosure Program

For many individuals, the Streamlined Offshore Voluntary Disclosure Program provided welcome relief in comparison to the “initial” Offshore Voluntary Disclosure Program.  Many taxpayers with foreign accounts and assets contact wonder what forms and documents must be filed to apply for the Streamlined Offshore Voluntary Disclosure Program.  In general, taxpayer’s must file the necessary FBARs, amend the necessary 1040s (1040X) and Form 14654.  Further, based upon the facts and circumstances, other forms may not be prepared and filed.  You should always discuss your requirements with your tax attorney and/or other tax advisors.  The video below has been prepared to provide additional information regarding the forms filed with the streamlined program.  You can contact The McGuire Law Firm to discuss your issues directly with a tax attorney.

Amending an Offer in Compromise

When an offer in compromise is submitted to the IRS, the IRS may agree that the taxpayer is an offer candidate, but not agree with the original offer in compromise amount.  Thus, can the initial offer in compromise be amended?  Yes, the offer can be amended to reflect a different amount and terms.

This issue is discussed in the video below by John McGuire, a tax attorney at The McGuire Law Firm.

You can contact The McGuire Law Firm to speak with a tax attorney.