Help for when the IRS audits your Streamlined Diclosure


I hired Parent & Parent LLP for my streamlined submission. What should I do?

Relax. Remember, we prepare all of our streamlined submissions as if they are going to be audited, so you are in a much better position than many who may have taken shortcuts.


I didn't hire Parent & Parent, will you represent me for my streamlined audit?

Unfortunately, many inexperienced tax preparers jumped on the IRS disclosure bandwagon and claimed expertise they do not possess. The problem is that the treatment of foreign taxes and assets is completely unlike anything else. We have reviewed hundreds of Streamlined Disclosures, both foreign or domestic, and find obvious errors, and errors not so obvious. But, rest assured, the IRS auditors are better trained to find both. 


The important thing to remember is that every situation can be made better. Getting in front of audit problems is key. We want our clients to know what the IRS is going to do before the IRS does. And sometimes by getting out in front, you might find tax savings you didn't know you were entitled to.


Common issues we see in taxpayers' submissions:

  • A non-willful narrative that gives too much, or too little information
  • Missing informational returns for foreign pensions, Form 3520, Form 3520-A
  • Failure to include 7702(g) calculation on foreign life insurance
  • Missing or incorrect Form 8621 for foreign mutual funds
  • Missing Form 5471S for dormant foreign corporations
  • Missing Form 720 for foreign life insurance excise tax
  • Missing domestic income
  • Tax positions not in accordance with clear precedent


Contact us for help. We have helped thousands of people just like you deal with an IRS disclosure issue. We are who CPAs and attorneys hire when they themselves have a disclosure problem. Even IRS employees hire us. As complicated as your case seems to you, it is probably very similar to quite of few other we have successfully navigated.


Call us at 888-727-8796 or email info@irsmedic.com. Any information you share with us will be kept confidential.