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14653 2024 Form: What You Should Know

Use the steps below to fill out the Form 14653 by US Person residing outside the United States for Streamlined Foreign Offshore Procedures: How to Fill out Form 14653 The US Person should provide the following information on Form 14653 in the correct order: Your full name, date of birth and mailing address, your Social Security number and a copy of your passport or other valid U.S. Government photo ID, if you have one. The US Person's name and mailing address, if available. Where you were physically present when the foreign-source income of this situation is recognized under the “where you were physically present when the foreign-source income was recognized” is a non-response. A valid response to this question is “I was a U.S. citizen.” Note:  If the US Person is not physically present in the United States when foreign-source income was recognized, provide a valid statement, dated within the last five years, showing that: (a) You have not had a residence outside the United States for the last five years; and (b) You did have a residence outside the United States, but that you do not recall the details. If the US Person is not physically present in the United States when foreign-source income was recognized, include the following information: The US Person MUST provide evidence that the foreign-source income is of an itemized or general nature, that the US Person can claim the exclusion and itemized deductions allowed by United States tax law and are limited to certain items, and that the foreign-source income is in addition to the U.S. source income. The US Person SHOULD include the name of the financial institution or foreign financial entity, the name and address of the United States person, the foreign financial entity's complete address and bank number, its name and address on its books or other records and its principal place of business, as well as the location of the country or other foreign country in which it conducts business, including the country or foreign country that is the financial source, or the country or foreign country that is involved with or is controlled by any portion of the financial source. If the US Person is a public official, the US person must also include a copy of a document issued by the agency which issued the United States passport or other U.S. Government issued photo ID.  If the US Person is an individual, spouse, or dependent of the foreign source.

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How to complete any Form 14653 online:

  1. On the site with all the document, click on Begin immediately along with complete for the editor.
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Video instructions and help with filling out and completing Form 14653 2024

Instructions and Help about Form 14653 2024

I. This is John McGuire. In this video, I will talk a little bit about Form 14654. Form 14654 is submitted when an individual is going through the offshore voluntary disclosure program regarding the streamlined process. In that form, you state the additional tax through the amended returns that you had to file. Then, you go through each year and state the account balances and so forth, in order to calculate the streamlined offshore penalty. What you do with this form is you submit the original and make a copy of each form to attach to the amended tax return. All of these documents are then submitted to the offshore disclosure program, which is now located in Austin, Texas. If you have any questions regarding this form or the disclosure of foreign financial assets, please feel free to contact the McGuire Law Firm. We offer a free consultation to all potential clients. Thank you.