We Can Help You.
We are the only State Bar Board Certified Tax Law Firm that specializes exclusively in IRS Offshore Voluntary Disclosure!
If you have foreign bank accounts or other foreign financial accounts and have not reported the account information and/or income to the United States, you have every right to worry about FBAR penalties.
The U.S. government has made international tax compliance an enforcement priority. The U.S. government is authorized to issue high fines and penalties against individuals and businesses that are out of FBAR compliance.
Sean M. Golding, JD, LL.M., EA – Certified Tax Law Specialist
Our Managing Partner, Sean M. Golding, JD, LLM, EA is the only Attorney nationwide who has earned the Certified Tax Law Specialist credential and specializes in IRS Offshore Voluntary Disclosure Matters.
In addition to earning the Certified Tax Law Certification, Sean also holds 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.)
He is frequently called upon to lecture and write on issues involving IRS Offshore Voluntary Disclosure.
Less than 1% of Tax Attorneys Nationwide
Out of more than 200,000 practicing attorneys in California, less than 400 attorneys have achieved this Certified Tax Law Specialist designation.
The exam is widely regarded as one of (if not) the hardest tax exam given in the United States for practicing Attorneys. It is a designation earned by less than 1% of attorneys.
Highly Experienced FBAR Lawyers
While our lead partner, Mr. Golding has been practicing law for nearly 20 years as an attorney, and has extensive experience in complex, high-stakes Eggshell Audits, Reverse Eggshell Audits, Criminal and Civil Litigation, we limit our practice exclusively to IRS Offshore Voluntary Disclosure (FBAR, FATCA, etc)
We have successfully handled several hundred OVDP and Streamlined Disclosure cases.
We are the FBAR Attorneys that other CPAs, Attorneys (and even current and former IRS personnel) contact when they need help.
What is an FBAR?
An FBAR is a Report of Foreign Bank and Financial Account Form aka FinCEN 114 (Financial Crimes Enforcement).
Who Has to File an FBAR?
An FBAR must be filed by any U.S. person (a United States Citizen, Legal Permanent Resident/Green Card Holder or U.S. Visa Holder who meets the Substantial Presence Test).
The person must file an annual FBAR statement for each year in which the person has an annual aggregate total of more than $10,000 in foreign accounts. It does not matter if the money is in one account with $300,000 or 15 accounts with $1,000 in each account – you have to report all of the accounts.
It also does not matter if the money belongs to you or if you are merely a joint account holder with a foreign non-US person who owns all of the money — you have to file the form if you are an owner, joint account holder, or signatory on the account.
When do I Have to File the FBAR?
Starting in year 2017 (in order to report your 2016 account information) the U.S. Government has changed the filing date to April 15, 2017 (unless it falls on a holiday or weekend – or if you obtain an extension). In prior years, the due date was June 30th.
What if I Never Filed an FBAR Before?
If you have never filed an FBAR, then it is important that you speak with an experienced FBAR lawyer before making any submission to the IRS. That is because there are extensive fines and penalties that the IRS can issue against a person who is out of compliance, and there are approved methods for getting back into compliance.
Important Note: Do NOT just start filing FBARs without educating yourself on the potential consequences. If you attempt to circumvent the proper procedures and make a quiet disclosure (aka just start filing FBARs), it may result in significantly higher fines and penalties reaching 100% of the value of your foreign accounts.
Are There Any Other Documents I Need to File?
While the FBAR may be the most well-known form for reporting foreign accounts, there are several other forms you may have to file as well depending on what types of assets or investments you have overseas, including:
- FATCA Form 8938
- Foreign Gift 3520
- Foreign Trust 3520-A
- Foreign Business 5471
- Foreign Partnership 8865
- Passive Foreign Investment Company 8621
How Do I Get into FBAR Compliance?
The safest and most effective method of getting into compliance is by submitting to one of the IRS offshore voluntary disclosure programs.
At Golding & Golding, we represent hundreds of taxpayers each year in over 55 different countries and we limit our entire practice to IRS offshore voluntary disclosure.
Email us to schedule a Reduced Fee Telephone Consultation to speak with an attorney.
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.