The IRS Penalties for not filing proper IRS International Informational Reporting forms and Foreign Bank Account Reporting misdeeds are bad.
What is an Illegal Offshore Tax Disclosure?
Here is a typical example./
- You have unreported foreign accounts, assets or income
- You learn about IRS Offshore Reporting Requirements
- You learn about FBAR & FATCA Penalties
- You get caught up reading fear mongering websites
- You take the FBAR & FATCA penalties “out-of-context”
- You get scared about going OVDP or Streamlined
- You file prior year Income Tax Returns and FBARs
- But You did not submit under OVDP, Streamlined or Reasonable Cause
- Now you are scared of Willfulness, Criminal Penalties & a Potential Jail Sentence
About 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.