How many expat returns actually get audited and what are the REAL fines?
- Unlike the 1% of local Americans that get audited, almost 5% of expats get audited each year - that's a 1 in 20 chance every year!
- Americans that file LATE, or file ZERO income are even more likely to be audited
- At a minimum you could be looking at interest plus late fees and fine. For continual evasion, the fines are in the 10's of thousands, passport revocation and even imprisonment
Source: Time Publications - Printed April 2015. Internal Revenue Service - current.