FATCA Services.ca | Am I eligible for the Streamlined Program?, Starting in effect on September 1, 2012, Canadian non-resident U.S. taxpayers may be eligible for the streamlined filing procedure. This allows U.S. taxpayers living abroad who have failed to timely file U.S. federal income tax returns.

You are eligible for the IRS Streamlined Filing Procedure if:
• You have resided outside the U.S. since January 1st, 2009
• You have not filed a U.S. tax return since becoming a non-resident of U.S.
• Your return does not show a tax due of higher than $1,500
• You are not filing an amended return to correct previously reported/unreported income or deductions



Risk Factors

In addition to the conditions for filing, there are risk factors that may affect eligibility for the new streamlined filing procedure. Further investigations of your situation will be needed to determine eligibility. The risks are listed below:

• If any of the returns submitted through this program claim a refund;

• If there is material economic activity in the United States;

• If the taxpayer has not declared all of his/her income in his/her country of residence;

• If the taxpayer is under audit or investigation by the IRS;

• If FBAR penalties have been previously assessed against the taxpayer or if the taxpayer has previously received an
.. FBAR warning letter;

• If the taxpayer has a financial interest or authority over a financial account(s) located outside his/her country of residence;

• If the taxpayer has a financial interest in an entity or entities located outside his/her country of residence;

• If there is U.S. source income; or

• If there are indications of sophisticated tax planning or avoidance




Gary Booth CA Professional Corp.

555 Burnhamthorpe Rd. - Suite 406
Toronto, ON,
M9C 2Y3
Tel: 416-626-2727
Fax: 416-621-7136
E-mail: info@fatcaservices.ca
Website: fatcaservices.ca
Am I eligible for the Streamlined Program?

What is the Streamlined Filing Procedure?
Starting in effect on September 1, 2012, Canadian non-resident U.S. taxpayers may be eligible for the streamlined filing procedure. This allows U.S. taxpayers living abroad who have failed to timely file U.S. federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs) but have recently become aware of their filing obligation to seek compliance with the law.
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FATCA Services | Foreign Account Tax Compliance Act | US back taxes services for Canadians Foreign Account Tax Compliance Act  | info@fatcaservices.ca GBCA / CPA Firm 416-626-2727 Toronto Tax Services Back Taxes Canada Owner, Gary Booth CA Professional Corp Toronto Tax Services Back Taxes Canada Owner, Gary Booth CA Professional Corp Film - Fatca (CPA Firm in Toronto, Canada) FATCA Services | Am I eligible for the Streamlined Program?, Starting in effect on September 1, 2012, Canadian non-resident U.S. taxpayers may be eligible for the streamlined filing procedure. This allows U.S. taxpayers living abroad who have failed to timely file U.S. federal income tax returns or Reports of Foreign Bank and Financial Accounts (FBARs) but have recently become aware of their filing obligation to seek compliance with the law.