Case Study Example of Offshore Accounts Filing & Reporting Offshore accounts: When the IRS or FinCEN refers to Offshore accounts, it is a catchall reference to foreign bank accounts, assets and investments located outside of the United States. *It also includes the income generated from the accounts. Offshore Accounts (In General) The IRS hates offshore…
Tax Attorney Credentials & Experience in Offshore Disclosure
Tax Attorney Credentials & Experience in Offshore Disclosure Oftentimes, clients will ask us what to look for when researching an IRS offshore disclosure lawyer. Tax Attorney Credentials IRS offshore disclosure involves making a voluntary compliance submission for FBAR, FATCA, PFIC etc. The submission is made under penalty of perjury — and the stakes are high. It is…
Just Learned About FBAR & Missed Prior Filings, Now What?
Just Learned About FBAR & Missed Prior Filings, Now What? Around this time of year, we get inundated with inquiries from individuals, businesses and estates who just learned, for the first time, about the IRS FBAR requirements (aka FinCEN Form 114). Just Learned About the FBAR? The FBAR is an important form. It is used…
3.1 Million Swiss Accounts Were Exposed to 75 Countries
3.1 Million Swiss Accounts Were Exposed to 75 Countries Just in case you thought your Swiss accounts were safe from the IRS… They aren’t. A recent press release from the Swiss Government cemented that fact with a recent press release. The short of it is, the Swiss Financial Institutions have shared data for more than 3.1…
Were you Misled About the Streamlined Filing Procedures?
Were you Misled About the Streamlined Filing Procedures? At Golding & Golding, we are one of the only IRS tax and law firms worldwide that specializes exclusively in offshore voluntary disclosure. Ever since the introduction of the “stand alone” streamlined procedures back in 2014, many clients have chosen the streamlined path instead of traditional voluntary…