OFFSHORE BANK ACCOUNTS

 

IRS CRACK-DOWN ON OFFSHORE TAX EVASION

 

The IRS has made cracking down on offshore tax evasion a top enforcement priority and compliance pressure for U.S. taxpayers with offshore accounts is only going to increase. Under the IRS’ Foreign Bank and Financial Accounts Program (FBAR), each US person who has a financial interest in or signature or other authority over any foreign financial accounts in a foreign country  and  if the aggregate value of these financial accounts exceeds $10,000, you must disclose the existence of such accounts.  Taxpayers who fail to file the FBAR and do not report their offshore accounts can face serious civil and criminal penalties, including fines, probation and prison sentences.

 

RESOLVING OFFSHORE BANK ACCOUNT ISSUES (WE DEAL DIRECTLY WITH THE IRS FOR YOU)

 

We are Full Service CPA Firm in New York City; we have an excellent track record & success in resolving offshore bank account Issues and have helped hundreds of clients with Off Shore Voluntary Disclosures and can help them with the Streamline Procedures Program. We deal directly with IRS Revenue Agents & Investigators working on your case. We have been successful in minimizing the Penalties for our clients.  

 

OFFSHORE BANK ACCOUNT AND INTERNATIONAL TAX ISSUES

 

We are a small CPA Firm and are committed to working directly with our clients to develop the best strategies and solutions to resolve tax issues arising out of offshore bank accounts. As tax CPA's we understand the complexities of taxes paid in other countries. We use US tax treaties with foreign countries to avoid the "Double Taxation"  on your income. We do both - work on the FBAR and prepare your Personal Tax Returns. We use our knowledge and years of experience to develop the most effective plans for bringing our clients into tax compliance. Our firm represents clients across the United States, Europe, and Asia who are both Residents and Non Residents around the world regarding a broad range of offshore voluntary disclosure programs and other international income tax issues. 

 

TAKE ACTION NOW

 

Taxpayers with unreported overseas financial accounts should take action now to resolve their offshore reporting issues and meet their U.S. tax obligations. Our CPAs will thoroughly review your situation to determine all options that may be available to bring your foreign financial accounts & tax reporting in full compliance with U.S. tax laws and FATCA regulations. If you would like to discuss the FBAR or related issues, don't hesitate to call or email us today.