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Options Available For U.S. Taxpayers With Undisclosed Foreign Financial Assets | TaxConnections
What Happens If You Haven't Filed These Forms?There are options to file delinquent forms that could be easier and less financially painful than you think. The IRS has been given large weapons by Congress with an array of huge delinquency penalties, but instead of waving them around wildly, causing noncompliant taxpayers to dive for cover, the IRS would rather coax taxpayers into compliance using the carrot approach.