The IRS’s Streamlined Filing Compliance Procedures continue to be a valuable tool for taxpayers who are not in compliance with all of their United States income tax reporting obligations associated with foreign activities. However, the program is full of potential traps and risks for those taxpayers and tax professionals who are unfamiliar with the program’s various requirements. This course will discuss the advantages and disadvantages of the IRS’s Streamlined Filing Compliance Procedures and its many requirements.