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 trouble.
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: About Our International Tax Law Firm
Golding & Golding specializes exclusively in international tax, and specifically IRS offshore disclosure.
We are the “go-to” firm for other Attorneys, CPAs, Enrolled Agents, Accountants, and Financial Professionals across the globe. Our attorneys have worked with thousands of clients on offshore disclosure matters, including FATCA & FBAR.
Each case is led by a Board-Certified Tax Law Specialist with 20 years of experience, and the entire matter (tax and legal) is handled by our team, in-house.
*Please beware of copycat tax and law firms misleading the public about their credentials and experience.
Less than 1% of Tax Attorneys Nationwide Are Certified Specialists
Sean M. Golding is one of less than 350 Attorneys (out of more than 200,000 practicing California Attorneys) to earn the Certified Tax Law Specialist credential. The credential is awarded to less than 1% of Attorneys.
Recent Golding & Golding Case Highlights
- We represented a client in an 8-figure disclosure that spanned 7 countries.
- We represented a high-net-worth client to facilitate a complex expatriation with offshore disclosure.
- We represented an overseas family with bringing multiple businesses & personal investments into U.S. tax and offshore compliance.
- We took over a case from a small firm that unsuccessfully submitted multiple clients to IRS Offshore Disclosure.
- We successfully completed several recent disclosures for clients with assets ranging from $50,000 – $7,000,000+.
How to Hire Experienced Offshore Counsel
Generally, experienced attorneys in this field will have all the following credentials/experience:
- 20-years experience as a practicing attorney
- Extensive litigation, high-stakes audit and trial experience
- Board Certified Tax Law Specialist credential
- Master’s of Tax Law (LL.M.)
- Dually Licensed as an EA (Enrolled Agent) or CPA
Interested in Learning More about Golding & Golding?
No matter where in the world you reside, our international tax team can get you IRS offshore compliant.
Golding & Golding specializes in FBAR and FATCA. Contact our firm today for assistance with getting compliant.