In a News Release dated 9/6/19, the IRS announced it will give limited relief, in the form of forgiveness of US taxes and avoidance of penalties and interest, in highly circumscribed circumstances.
This is for individuals who have not filed US taxes, who owe a total of no more than $25,000 over the recent 6 years and who have net assets of less than $2 million.
Importantly, these taxpayers’ noncompliance must be non-willful. They must not have known about their obligations and deliberately failed to pay taxes.
Also, quite importantly, they still must prepare and file 6 years of complete tax returns.
This is for individuals who have not filed US taxes, who owe a total of no more than $25,000 over the recent 6 years and who have net assets of less than $2 million.
Importantly, these taxpayers’ noncompliance must be non-willful. They must not have known about their obligations and deliberately failed to pay taxes.
Also, quite importantly, they still must prepare and file 6 years of complete tax returns.
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