General Treatment under Streamlined Domestic Offshore (SDOP) - Golding & Golding, Board Certified Tax Specialist

General Treatment under Streamlined Domestic Offshore (SDOP) – Golding & Golding, Board Certified Tax Specialist

General Treatment under Streamlined Domestic Offshore (SDOP)

As with many things in life, a common question is “what’s in it for me?”  When dealing with the IRS and streamlined domestic offshore procedures, this issue will revolve around:

  • Tax liability
  • Penalties, and
  • Chances of Audit or Examination 

General Treatment under Streamlined Domestic Offshore (SDOP)

When clients approach us and are interested in the Streamlined Domestic Offshore Procedures (SDOP), they will want to know what type of general treatment they will receive under the program — and we’re here to help bring some clarity.

Let’s explore:

A. Streamlined Domestic Offshore Tax Liability

When a person submits to streamline domestic offshore procedures, they are responsible for paying whatever their tax liability would have been, had they initially paid their taxes timely.

B. Streamlined Domestic Offshore Penalties

The penalties are relatively straightforward. The applicant will pay a one-time, 5% penalty for the 6-year compliance period.

C. Streamlined Domestic Offshore Audit or Examination

The IRS has made it known they are increasing enforcement of post-submission procedures. Over the past 6-months, we have had many individuals approach us after receiving a notice of audit.

Common situations which can put the client into a worse situation, include:

  • The initial attorney retained for the submission was not a Board Certified Specialist, and oversold/underperformed.
  • The initial attorney referred the client out to a CPA, who then tried to gauge the client with fees.
  • The initial attorney prepared a sloppy submission, and missed several key issues.

The above referenced situations can be avoided, so that even if you are audited — you are prepared. 

Experienced attorneys in this area of law will have the following credentials:

  • Board-Certified Tax Law Specialist (Less than 1% of Attorneys nationwide)
  • LL.M (Master’s in Law Degree) in Tax Law
  • Dually Licensed as an Attorney/Enrolled Agent (EA) or Attorney/CPA
  • Extensive high-stakes audit experienced
  • Trial and Litigation experienced

IRS Offshore Streamlined Procedure Lawyers (Golding & Golding, Board-Certified Tax Law Specialist)

Golding & Golding represents clients worldwide in over 70-countries exclusively in Streamlined, Offshore and IRS Voluntary Disclosure matters. We have successfully completed more than 1,000 streamlined and voluntary disclosure submissions.

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

Less than 1% of Tax Attorneys Nationwide Are Certified Specialists

Sean M. Golding is one of less than 400 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+.
Golding & Golding (Board Ceritfied Specialist in Tax Law)

Golding & Golding (Board Certified Specialist in Tax Law)

Speak with an Experienced Disclosure Specialist

No matter where in the world you reside, our international tax team can get you IRS offshore compliant.

Golding & Golding specializes in offshore tax and reporting amnesty. Contact our firm today for assistance with getting compliant.

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