- 1 It is Simply Not Worth the Risk
- 2 What is a Quiet Disclosure?
- 3 Offshore Disclosure Penalties May Be Reduced or Waived
- 4 Once You Knowingly Make a Quiet Disclosure…
- 5 Can I Just Properly Report Going Forward?
- 6 What Type of Attorney Should I Hire?
- 7 Sean M. Golding, JD, LL.M., EA (Board Certified Tax Law Specialist)
- 8 Beware of Copycat Law Firms
- 9 Reduced Fee Consultation
It is Simply Not Worth the Risk
We are the only State Bar Board Certified Tax Law Firm that specializes exclusively in IRS Offshore Voluntary Disclosure; We Can Help You!
Even though the notion of voluntarily getting into compliance with the Internal Revenue Service (IRS) through OVDP, the Streamlined Program or Reasonable Cause is scary and overwhelming – by making a Quiet Disclosure, you are breaking the law, and that is never the correct option.
What is a Quiet Disclosure?
A Quiet Disclosure is when you knowingly, intentionally, or recklessly file/amend past tax returns to include unreported foreign income, accounts, assets, or investments.
Typically, when a person files a Quiet Disclosure, they have one or multiple forms that were not properly filed with the IRS, including:
- FBAR (Fincen 114)
- FATCA Form 8938
- Form 5471
- Form 5472
- Form 8621
- Form 8865
Offshore Disclosure Penalties May Be Reduced or Waived
If the reason you did not previously report the information or income to the IRS was because you were unaware of the requirement to do so, there are relatively painless methods you can use to safely get into compliance. They include:
- Streamlined Domestic Offshore Procedures
- Streamlined Foreign Offshore Procedures
- Delinquent Information Return Filing
- Delinquent FBAR Filing
- Reasonable Cause
Even if you were willful in years past, if you enter OVDP — you nearly eliminate any chance of IRS audit, or criminal investigation for these international tax related issues. Moreover, you may be able to reduce the penalties by opting out, making a mark-to-market election, or implementing FAQ 55 penalty waivers.
Once You Knowingly Make a Quiet Disclosure…
…You are willful. Even if you were non-willful before, by “quietly” submitting prior year tax returns or FBARs, you are intentionally omitting necessary information to the IRS, which could now turn your previous non-willful noncompliance into a full-blown willfulness/tax fraud situation.
**If you “unintentionally” made a previous Quiet Disclosure, you may still qualify for the Streamlined or Reasonable Cause option.
Can I Just Properly Report Going Forward?
Here is the problem with that strategy: if you knew you were supposed to go back and file previous returns or FBARs and did not do so, and your are audited, you could be considered to have acted with reckless disregard and/or as making an intentional omission – which could lead to willful penalties down the line (and those penalties can be very steep).
What Type of Attorney Should I Hire?
IRS Voluntary Disclosure is a specialized area of law. An IRS Voluntary Disclosure is a complex undertaking. It requires the coordination of several moving parts, including strategy development, Tax Preparation, Legal Analysis, Negotiation and more.
You should hire a Tax Attorney who has the following credentials:
- ~20 Years of Private Practice experience representing his/her own clients
- Experienced in Criminal and Civil Tax Litigation
- Experienced representing clients in Eggshell and Reverse Eggshell Audits
- Advanced Tax Degree (LL.M.)
- EA (Enrolled Agent) or CPA (Certified Public Accountant)
- Preferably a Board Certified Tax Law Specialist
Sean M. Golding, JD, LL.M., EA (Board Certified Tax Law Specialist)
Our Managing Partner, Sean M. Golding, JD, LLM, EA earned an LL.M. (Master’s in Tax Law) from the University of Denver and is also an Enrolled Agent (the highest credential awarded by the IRS, and authorizes him to represent clients nationwide.)
Mr. Golding and his team have successfully handled several hundred IRS Offshore/Voluntary Disclosure Procedure cases. Whether it is a simple or complex case, safely getting clients into compliance is our passion, and we take it very seriously.
He is frequently called upon to lecture and write on issues involving IRS Voluntary Disclosure.
Less than 1% of Tax Attorneys Nationwide are Board Certified Tax Law Specialists
The Board Certified Tax Law Specialist exam is offered in many states, and is widely regarded as one of (if not) the hardest tax exam given in the United States for practicing Attorneys. Certification also requires the completion of significant ethics and experience requirements.
In California alone, out of more than 200,000 practicing attorneys (with thousands of attorneys practicing in some area of tax law), less than 350 attorneys are Board Certified Tax Law Specialists.
Beware of Copycat Law Firms
Unlike other attorneys who call themselves specialists or experts in Voluntary Disclosure but are not “Board Certified,” handle 5-10 different areas of tax law, purchase multiple keyword specific domain names, and even practice outside of tax, we are absolutely dedicated to Offshore Voluntary Disclosure.
*Click here to learn the benefits of retaining a Board Certified Tax Law Specialist with advanced tax credentials.
Reduced Fee Consultation
We do not offer “free” initial telephone consultations, because free initial telephone consultations are nothing more than “Sales Pitches” designed to misinform and scare you into making a brash decision.
When you are ready to discuss the specifics of your case, please email us to schedule a Reduced Fee Telephone Consultation with an experienced IRS Offshore Voluntary Disclosure Lawyer.
We offer consultations in 30-minute, 60-minute, and 90-minute increments.
Sean holds a Master's in Tax Law from one of the top Tax LL.M. programs in the country at the University of Denver, and has also earned the prestigious Enrolled Agent credential. Mr. Golding is also a Board Certified Tax Law Specialist Attorney (A designation earned by Less than 1% of Attorneys nationwide.)