Houston FBAR Attorney (Golding & Golding)
FBAR Lawyer Houston: Our FBAR Lawyer Houston tax team has represented hundreds of clients throughout Texas. The IRS has increased enforcement of FBAR Reporting of offshore accounts, assets, and investments. The FBAR is a “federal” filing. It is required by the Internal Revenue Service. When a Foreign Account holder is out of compliance for reporting accounts, they may become subject to FBAR fines and penalties. We represent many clients throughout Houston, Sugar Land, and the neighboring Houston communities.
Our FBAR Lawyer Houston team at Golding & Golding is based out of Irvine, California, but we are often retained to help represent clients when they need an international tax law firm that specializes exclusively in offshore tax matters.
Who Needs an FBAR Attorney?
The following summary details when and why you need an FBAR Attorney.
A. You Filed the FBAR Timely, But…
But, maybe you forgot a few accounts or assets and are not sure, or did not also include them on the FATCA Form 8938, 3520, 8621, etc. — you may want to speak with an FBAR Attorney to discuss willful vs. non-willful, etc. but if there is no unreported income, you should be fine.
B. You Missed the FBAR Filing Deadline
The deadline for filing the FBAR is the date your taxes are due (usually April 15th), but is currently on automatic extension to October.
If you missed the FBAR Deadline, you may be subject to fines and penalties and will want to speak with an experienced FBAR Attorney.
C. You are Worried about FBAR Penalties
FBAR Penalties can be Civil or Criminal.
They can then be broken down even further, but the threshold question, is whether the IRS will get you for Civil (money) or Criminal (money, and worse).
i. Civil FBAR Penalties
Civil FBAR Penalties are limited to monetary penalties. A civil FBAR Penalty is a penalty that is focused on monetary fines or warning letters (waivers) — without any risk of criminal investigation or prosecution.
A few important considerations:
– Most courts have held that the maximum annual FBAR willful penalty is not limited to $100,000.
– If the court believes you acted with Reckless Disregard, they can still penalize you full Willful FBAR Penalties.
– If the court believes you acted with Willful Blindness, they can still penalize you full Willful FBAR Penalties.
– Even in a non-willful setting, the court can issue $10,000 per account, per year penalty
ii. Criminal FBAR Penalties
Criminal FBAR Penalties may include monetary penalties and incarceration.
This is when the IRS refers the matter to the Department of Justice (DOJ) or other 3 letter government faction for criminal investigation and possible prosecution. These are not very common, but unfortunately they are on the rise.
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 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.