A Cross-Border Finance & Tax Podcast To Filter Out The Noise
Hosted by Jane Mepham, CFP & Manasa Nadig, EA
Listen & Subscribe
dark+apple dark+spotify dark+youtube
About
The International Money Café Podcast addresses the unique financial, tax, and life challenges faced by foreign-born individuals, foreign nationals on work visas, and U.S expats living outside the U.S.
Join us as we navigate the financial complexities, decode the challenges, and provide actionable strategies for thriving financially in a global landscape.
All Episodes
Every episode gives you tips on pursuing your financial dream while staying tax-compliant, saving you hours of combing the Internet for information relevant to your situation!
Ep 63: What is English for "DIIRSP"?
Manasa discusses the Delinquent International Information Return Submission Procedures (DIIRSP) offered by the IRS.
This program allows individuals who have missed filing certain international information returns but have no additional taxes owed to file late without penalties.
She covers eligibility criteria, the filing process, and best practices to ensure a successful submission.
Takeaways
DIIRSP is a penalty-free option for missed international forms.
Eligibility includes not being under IRS audit and no additional taxes owed.
Common forms covered by DIRSP include 5471, 5472, and 8938.
A reasonable cause statement is crucial for DIRSP submissions.
Filing must be done by paper to a specific IRS address.
Timely filing increases the chances of acceptance by the IRS.
The DIIRSP is not for hidden income issues, only paperwork compliance.
Don't DIY as mistakes can be very expensive (tens of thousands)
Chapters
00:00 Understanding DIRSP: A Lifeline for Tax Filers
06:43 Best Practices for Filing DIRSP
Episode Links and Resources
The IM Café Finance / Tax Roastery (Store) Is Live
Grab "the Comprehensive Checklist for Foreign Nationals on Work Visas Leaving the U.S." currently on sale, to celebrate our 50th episode.
Meet Your Hosts
Jane Mepham, CFP and
Manasa Nadig, EA
Jane Mepham, CFP®, and Manasa Nadig, EA, are leading experts revolutionizing cross-border financial and tax advice for green card holders, foreign-born U.S. citizens, foreign nationals on work visas, and U.S. expats.
Jane, the founder of Elgon Financial Advisors in Austin, TX, and Manasa, the founder of MN Tax & Business Services in Plymouth, MI, combine their extensive knowledge and personal experiences to provide invaluable insights on the podcast.
Explore their journeys and expertise through their blogs, LinkedIn, Twitter, and Instagram pages.
If you’d like to go beyond the podcast and explore working with us one-on-one
Download Your Freebie
Take this episode further with our exclusive companion resource. Inside, you’ll find practical tips, tools, and insights designed to help you put what you’ve learned into action right away.