Who are Golding & Golding?
Our Offshore Tax Attorneys specialize exclusively in IRS Offshore & Streamlined Voluntary Disclosure of domestic & foreign accounts, assets, investments and income. Each case is led by a Board-Certified Tax Attorney Specialist with 20+ years legal experience. Our international tax attorney team at Golding & Golding has helped thousands of taxpayers successfully navigate the complex maze of FBAR & FATCA. Our International Tax Attorney team represents clients nationwide and across the globe, with tax preparation, legal representation, IRS follow-up, and examination defense.
*Beware of less-experienced copycat law and tax firms trying to mislead you about offshore disclosure.
What is IRS Offshore Disclosure?
IRS Offshore Disclosure is the process for U.S. Taxpayers to disclose previously unreported foreign accounts, assets, income, & investments. The main programs are: Traditional Voluntary Disclosure Program; Streamlined Filing Compliance Procedures; Delinquent International Informational Return Submission Procedures, and Reasonable Cause. Our Tax Attorneys have helped 1000s of clients get compliant and avoid a high-stakes FBAR & offshore catastrophe.
IRS Voluntary Disclosure Program (New OVDP)
IRS Voluntary Disclosure Program: VDP is the oldest offshore voluntary compliance program. In recent years, the IRS has developed several offshore voluntary disclosure tax amnesty compliance programs to allow Taxpayers to report and disclose unreported assets & income. Under the new version of the program, the IRS combined Offshore and Domestic Voluntary Disclosure into one program. Our Tax Attorneys can help you get compliant.
Streamlined Domestic Offshore Procedures
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 miscellaneous offshore penalty. Our Tax Lawyers represent clients in the Streamlined Domestic Offshore Program in order to leverage a smaller penalty now, against a potentially larger penalty later. This reduces the chance of a tax audit or examination in the future.
Streamlined Foreign Offshore Procedures
The Streamlined Foreign Offshore Procedures or (SFOP) is a great program for expats and other individuals who do not qualify as a U.S. citizen or legal permanent resident. it a highly cost-effective method of quickly getting you into IRS (Internal Revenue Service) or DOT (Department of Treasury) compliance. Our Tax Attorneys represent you with getting into IRS Tax and Reporting Compliance, without having to pay any penalties. It also allows taxpayers to file original tax returns.
Delinquent International Information Returns
Delinquent International Information Return Submission Procedures: If you have not filed one or more required international information returns, such as a 5471, 3520, or 8938, or the FBAR the IRS may penalize you extensively for not being in “IRS Offshore Compliance.” Our Tax Lawyers are very experienced with DIIRSP. The program is designed to help safely bring people into compliance with a reduced risk of an “offshore information return penalty.”
Delinquent FBAR Submission Procedures
Delinquent FBAR Submission Procedures: If you are only out of compliance for not filing the annual FBAR (FinCEN Form 114), and you do not have any unreported income, you may be able to avoid FBAR Penalties. Our Tax Lawyers are very experienced with the Delinquent FBAR Submission Procedures. This program is also designed to help safely bring U.S. taxpayers from around the world into compliance with a reduced risk of an “offshore penalty.” These penalties can be civil or criminal.
Offshore Penalty Abatement
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. Our Offshore Tax Attorneys can help.
Covered Expatriates & Exit Tax
Expatriation is the process of relinquishing U.S. Citizenship or Legal Permanent Resident Status (Depending on if the filer is a Long-Term Resident). Some expatriates that are considered covered expatriates will have to prepare a shadow sale of their assets using a Mark-to-Market election on Form 8854, and possibly pay an Exit Tax. Our Expat Tax Attorneys can help with offshore disclosure and expatriation.
International Tax Blog – Golding & Golding
The whole process of correcting unresolved tax issues went smoothly as Sean provided me with a courteous, timely and professional service” – Foreign Account Compliance Client
The reason went with Golding & Golding was that we wanted to work with someone that had both knowledge and expertise as well as actual in-depth experience of working through international tax situations.” – Offshore Compliance Client
Sean has provided us with an outstanding service throughout the streamlined procedure. Sean is straightforward, knowledgeable, reliable and extremely responsive. His empathic approach and ability to explain complicated matters in a simple way are very comforting in such a stressful situation.” – IRS Voluntary Disclosure Client
3 years of amended tax returns and 6 years of delinquent FBARs, plus a thoroughly researched reasonable cause statement citing the tax laws of both countries and the treaties between them. All from a jumble of papers faxed from my files. Sean had the issue resolved in less time than it took me to find out what the problem was in the first place” – Offshore Disclosure Client