Tax Amnesty - Common Questions & Answers, Applying for Amnesty (Golding & Golding)

Tax Amnesty – Common Questions & Answers, Applying for Amnesty (Golding & Golding)

IRS Tax Amnesty – Income & Assets Abroad | IRS Overseas Amnesty

IRS Tax Amnesty: The IRS Tax Amnesty Programs are a safe and proven method for avoiding even more serious fines and penalties for unreported Foreign Income or Accounts – as well as unreported Domestic Income.

Common issues include:

  • Unfiled Tax Returns
  • Delinquent Tax Returns
  • Previous Quiet Disclosures
  • Unreported Domestic Income
  • Unreported Foreign Income
  • Unreported Foreign Accounts
  • Unreported Foreign Assets
  • Unreported Foreign Investments

We Specialize in IRS Voluntary Disclosure

We have successfully handled a diverse range of IRS Voluntary Disclosure cases. Whether it is a simple or complex case, safely getting clients into compliance is our passion, and we take it very seriously.

Unlike other attorneys who call themselves specialists but handle 10 different areas of tax law, purchase multiple domain names, and even practice outside of tax, we are absolutely dedicated to IRS Voluntary Disclosure.

No Case is Too Big; No Case is Too Small.

We represent all different types of clients. High net-worth investors (over $40 million), smaller cases ($100,000) and everything in-between.

We represent clients in over 70 countries and nationwide, with all different types of assets and reporting requirements.

  • FBAR
  • Foreign Mutual Funds
  • Foreign Life Insurance
  • Fixing Quiet Disclosure
  • PFIC
  • Foreign Real Estate Income
  • Foreign Real Estate Sales
  • Foreign Earned Income Exclusion
  • Subpart F Income
  • Foreign Inheritance
  • Foreign Pension
  • CFC 
  • Form 3520
  • Form 5471
  • Form 8621
  • Form 8865
  • Form 8938 (FATCA)

Who Decides to Go into IRS Voluntary Disclosure

All different types of people submit to OVDP. We represent Attorneys, CPAs, Doctors, Investors, Engineers, Business Owners, Entrepreneurs, Professors, Athletes, Actors, Entry-Level staff, Students, and more.

You are not alone, and you are not the only one to find himself or herself in this situation.

…We even represent IRS Staff with getting into compliance.

IRS Rules for Offshore or Foreign Income

The Internal Revenue Service taxes individuals who are considered U.S. persons on their worldwide. This includes U.S. Citizens, Legal Permanent Residents (Green-Card Holders), and individuals who otherwise meet the Substantial Presence Test (usually temporary visa holders such as a H-1B or L-1)

It does not matter whether you reside in the United States or abroad when it comes to the actual reporting of the income. It also does not matter if the income is tax-free in the foreign country. If you earned the income abroad, you are required to report the income on your tax return – although you may receive a Foreign Tax Credit or qualify for the Foreign Earned Income Exclusion.

Golding & Golding, A PLC

We have successfully represented clients in more than 1000 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.