I just got a call today from someone outside the U.S. This person (no gender, please) called from somewhere (no country, please) and didn’t want me to even use the first initial of his/her/its 🙂 name.
This person is a U.S. citizen I assume, based on command of the English language and the accent. LOLZ I am so perceptive!!11!1!
I have wall-to-wall meetings today but I want to get this onto the blog.
Extremely important question raised. EXTREMELY.
Someone who has lived overseas for a long time. Has never heard about the Form TD F 90-22.1. No clue. Never, obviously, filed this form.
This person is concerned. (!)
What should this person do, strategically?
My off-the-cuff answer to him was that the IRS should be expected to be harsh, aggressive, and unforgiving in pursuing offshore account holders who do not Come to Jesus. Meaning that the possibility of waiver of penalties should be expected to run on a trendline to zero. I am not talking about potential tax evasion cases. Those are in a category by themselves. I am talking about people like my caller.
The actual answer I gave was an unvarnished, drunken-pirate potty-mouth epithet, and I will not share it here. 🙂 For that, you’ll have to follow me on Twitter. @philiphodgen
Comments from the lurkers? Email me anonymously and I will post your comments anonymously if you want.