201904.07
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CPA or Attorney Says to Report Filing Forward for Offshore Accounts?

CPA or Attorney Says to Report Filing Forward for Offshore Accounts? (Golding & Golding)

CPA or Attorney Says to Report Filing Forward for Offshore Accounts? (Golding & Golding)

CPA or Attorney Says to Report Filing Forward for Offshore Accounts?

Filing Forward for Offshore Accounts: Don’t. Do. It. It is not worth the risk. If you have not properly filed your international tax forms with the IRS to disclose your foreign and offshore accounts, you have legal, safe and effective options.

Filing forward is equivalent to lying to your sweet grandma about sneaking a cookie before dinner.

There’s two concerns:

  • She already knows, and you’re just digging yourself a deeper hole; or
  • She doesn’t know, finds out later, and then you’re really in deep.

Don’t lie to your grandma.

Filing Forward vs. Offshore Amnesty

While the penalties associated with some options (IRM Voluntary Disclosure aka Post-OVDP) are worse than other options (Streamlined or Reasonable Cause) – you should never quietly begin filing going forward (aka Filing Forward or Silent Disclosure).

That is always the worst option of all.

Filing forward is when you begin reporting your offshore and foreign accounts for prior years without first getting into offshore compliance using proper methods.

As a result, you have made false representations (via intentional omissions), which is a crime.

Golding & Golding, A PLC

We have successfully represented clients in more than 1,000 streamlined and voluntary disclosure submissions nationwide and in over 70-different countries.

We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants, and Financial Professionals across the globe.

IRS Offshore Voluntary Disclosure Specialist

IRS Offshore Voluntary Disclosure Specialist

Golding & Golding: Our international tax lawyers practice exclusively in the area of IRS Offshore & Voluntary Disclosure. We represent clients in 70+ different countries. Managing Partner Sean M. Golding is a Board-Certified Tax Law Specialist Attorney (a designation earned by < 1% of attorneys nationwide.). He leads a full-service offshore disclosure & tax law firm. Sean and his team have represented thousands of clients nationwide & worldwide in all aspects of IRS offshore & voluntary disclosure and compliance during his 20-year career as an Attorney.

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. He has also earned the prestigious IRS Enrolled Agent credential. Mr. Golding's articles have been referenced in such publications as the Washington Post, Forbes, Nolo, and various Law Journals nationwide.
IRS Offshore Voluntary Disclosure Specialist