Tax Attorneys: Offshore & Voluntary Disclosure Specialist

Board-Certified Tax Attorney

Becoming a Board-Certified Tax Specialist is a tough feat. There are more than 200,000 attorneys in California alone, and tens of thousands of them practice in some area of tax, including tax litigation, employment tax, real estate tax, & IRS Offshore Disclosure. Sean M. Golding is one of less than 350 Attorneys (out of more than 200,000 practicing California Attorneys) to earn the Certified Tax Law Specialist credential. The credential is awarded to less than 1% of Attorneys nationwide.

Flat-Fee, Full-Service (Tax & Legal)

Our Offshore Tax Attorney team offers flat-fee, full-service representation for tax preparation, legal representation and IRS tax audit/examination defense.  We are the "go-to" international tax lawyers for clients, CPAs, Lawyers, Financial Planners, and businesses across the globe. Our EA and Offshore Voluntary Disclosure Lawyer team handles the entire tax, legal, & examination defense process, from beginning-to-end. Avoid less-experienced firms trying to mislead you.

IRS Voluntary Disclosure Program (VDP)

IRS Voluntary Disclosure Program: VDP is the oldest offshore voluntary compliance program. In recent years, the IRS developed several offshore voluntary disclosure tax amnesty compliance programs to allow Taxpayers to report and disclose unreported assets & income. Under the new updated version of the voluntary disclosure program, the IRS combined Offshore and Domestic Voluntary Disclosure into one program.

Streamlined Domestic Offshore (SDOP)

Streamlined Domestic Offshore Procedures: When U.S. resident Taxpayers have unreported offshore assets, income, accounts & assets and are non-willful, they may qualify for SDOP, and a reduced a 5% Title 26 offshore penalty. The purpose of the Streamlined Domestic Offshore Program is to leverage a smaller penalty now, against a potentially larger penalty later, and certify non-willfulness.

Delinquent Information Returns (DIIRSP)

Delinquent International Information Return Submission Procedures: If you have not filed one or more required international information returns, such as a 5471, 3520-A, or 8865, the IRS may penalize you extensively for not being in "IRS Offshore Compliance." DIIRSP is designed to help safely bring people into compliance with a reduced risk of an "offshore penalty." Common IRS International Informational Returns: FBAR, FATCA, 3520, 5471, 5472, 8938, 8865 & 8621.

Offshore Reasonable Cause 

A Reasonable Cause submission letter for FBAR, FATCA and international tax in general is a very complex and delicate undertaking, There is no "form" for the submission, and you need to rely on the experience of your Tax Attorney. Each person's facts and circumstances are different, and reasonable cause is evaluated differently depending on who is reviewing the reasonable cause statement at the IRS.  We have successfully represented 100s of clients with Reasonable Cause.

FATCA Penalties

A person may be subject to a FATCA penalty of $10,000. And, if you do not file a correct and complete Form 8938 within 90 days after the IRS mails you a notice of the failure to file, you may be subject to an additional penalty of $10,000 for each 30-day period (or part of a period) during which you continue to fail to file Form 8938 after the 90-day period has expired, up to $50,000.

Form 3520 Penalties

The initial Form 3520 penalty is equal to the greater of $10,000 or: 35% of the gross value of any property transferred to a foreign trust; 35% of the gross value of the distributions received from a foreign trust; 5% of the gross value of the portion of the foreign trust's assets treated as owned by a U.S. person under the grantor trust rules, and potential additional separate penalties as well.

Form 5472 Penalties

A Form 5472 penalty of $25,000 will be assessed on any reporting corporation that fails to file Form 5472 when due. Each member of a group of corporations filing a consolidated information return is a separate reporting corporation subject to a separate $25,000 penalty, If the failure continues for +90 days after notification by IRS, an additional penalty of $25,000 will apply.

Form 8621 Penalties

Form 8621 is a form that is required to be filed by individuals who have a PFIC (Passive Foreign Investment Company) and are not exempt from filing. If you are required to report a form 8621 but failed to do so, that means your tax return is incomplete and the IRS can go back and audit you for years to come, on that return (aka the Statute of Limitations does not expire). This may lead to additional penalties.

Form 8938 Penalties

A person may be subject to a Form 8938 penalty of $10,000. And, if you do not file a correct and complete Form 8938 within 90 days after the IRS mails you a notice of the failure to file, you may be subject to an additional penalty of $10,000 for each 30-day period (or part of a period) during which you continue to fail to file Form 8938 after the 90-day period has expired, up to $50,000.

Offshore Tax Fraud Penalties

When a person is liable for international tax fraud or tax evasion, they may be subject to either civil and or criminal tax fraud and evasion penalties. These IRS offshore penalties may result in significant monetary penalties, and penalties on taxes due. In addition, the matter may be referred to an IRS Special Agent investigation, which may lead to prosecution, more financial penalties, & prison.