by Fresh Start Tax | Jul 27, 2012 | FBAR, Tax Lawyer, Tax Returns, Uncategorized
If you need professional tax help for the FBAR filing or FBAR Reporting on current, late or past due FBAR’s contact our office for a free tax consultation. 1-866-700-1040.
Call our team of Tax Attorneys, CPA’s and Former IRS Agents. We have over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service.
We taught Tax Law at the IRS. We know all the tax techniques because we taught them at the IRS as Former IRS agents.
Do not be worried or fearful of the IRS. Hire the right Tax Firm and free yourself up from worry or undue stress.
You need to pull the trigger and take care of these matters before any IRS contact.
The IRS began an open-ended offshore voluntary disclosure program (OVDP) in January 2012 on the heels of strong interest in the 2011 and 2009 programs.
The IRS is offering people with undisclosed income from offshore accounts another opportunity to get current with their tax returns. The 2012 OVDP has a higher penalty rate than the previous program but offers clear benefits to encourage taxpayers to disclose foreign accounts now rather than risk detection by the IRS and possible criminal prosecution.
If you file your FBAR form before IRS contacts you, will have no worries. IRS wants voluntary disclosure.
Amending a Filed FBAR
The following instructions may be given to anyone who needs to file an amended FBAR. To amend a previously filed FBAR:
Write “Amended” at the top of a new form. I recommend writing it in read to draw attention to the reviewer. Make sure the writing is not blending in to the form. Make it clear and obvious.
Add/correct the information about the account.
Staple it to a copy of the original form.
Mail the amended FBAR to the filing address shown on the form
Department of the Treasury
Post Office Box 32621, Detroit, MI 48232-0621.
Need FBAR Filing Verification
Filed FBARs are entered onto the Detroit Computing Center’s Currency and Banking Retrieval System (CBRS) database.
Filing can be checked by IRS personnel with CBRS passwords.
Filers can request verification of the FBARs that they filed 60 days after the date of filing. A request for verification of FBAR filing must be made in writing and should include the filer’s name, Taxpayer Identification Number, and filing period.
There is a $5.00 fee for verifying five or fewer forms and a $1.00 fee for each additional form. If copies are needed, the additional fee is $0.15 per copy.
Checks or money orders should be made payable to the United States Treasury. The payment should be mailed to:
IRS Detroit Computing Center,
P.O. Box 32063, Detroit, MI 48232 Attn.: Verification
by Fresh Start Tax | Jul 27, 2012 | FBAR, Representation, Tax Lawyer
We are a professional tax firm located in South Florida. We have serviced the South Florida Area since 1982. We are tax experts in IRS Tax Representation.
Call for a no cost professional tax consult. 954-492-0088
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents, Managers and Instructors.
As Former IRS Agents we worked in the South Florida IRS offices. We also worked in the district and regional offices of the IRS.
We taught Tax Law at the IRS. We know the system and closing procedures to save you time and money. We can take away your fear and worry.
We handle all criminal and civil IRS cases. Once we recognize and analysis the scope of your situation your case is assigned to a tax expert in that field.
Conversation may be privileged by request. Make sure you find IRS before they find you!
Latest News on FBAR and South Florida
A South Florida man has been sentenced to four months in federal prison after pleading guilty to failing to report accounts ( FBAR ) at Swiss bank UBS AG.
A Miami judge imposed the sentence on 62-year-old Luis Quintero of Miami Beach.
Luis Quintero also must pay a $2 million Civil Penalty and was fined by the courts for an additional $20,000.
A review of the Court Documents finds Luis Quintero formed companies in the British Virgin Islands and Panama that were used to open the UBS accounts.
The accounts had more than $4 million in them.
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FBAR – Tax Attorneys, Tax Lawyers – FBAR Experts – Miami, Ft. Lauderdale, West Palm Beach – Criminal & Civil Tax Representation
by Fresh Start Tax | Jul 27, 2012 | FBAR, Tax Lawyer
The very last thing you want in your life is an IRS Criminal Investigation. The reality is that few persons have to go through that nightmare however, if you do not file the US Government Reports concerning FBAR, your chance will definitely go up.
We are a tax specialty firm with an expertise in all IRS matters. We handle both Criminal and Civil tax matters. Call us today for a no cost consult. 1-866-700-1040.
Let us take away your fear or worry today.
We taught TAX LAW at the IRS. You can speak directly to professionals that know the system.
While this blog is not written to scare anyone you should be advised that the IRS has just received another $500 Billion to go after tax cheats ( next year alone ) and much of that money will be focused on FBAR, Expatriates, Unfiled Tax Returns and Overseas monies not reported to the IRS.
Living in Pakistan will not shelter you from the IRS.
Over the last three years over 33,000 persons came forward and voluntarily filed FBAR’s . Many from Pakistan.
As a result of those voluntary disclosures the IRS collected $5.5 Billion. The IRS will not stop. The fear of criminal prosecution looms over taxpayers if FBARs are not filed.
The IRS is currently training many new Revenue Agents and are pouring more money into their CADE computer system to run down tax criminals.
While many persons living overseas have nothing to worry about many persons do. The IRS will catch up eventually. Find the IRS before they find you.
We are here to offer a free tax consultation to keep you out of jail and avoid paying as much tax as possible. We can reduce your tax debt by knowing the Law.
Call us today for a no cost tax consult. We are an International Tax Firm. If you live in Pakistan feel free to SKYPE us.
You will speak directly to tax attorneys, tax lawyers or Former IRS agents.
Call, 1-866-700-1040
by Fresh Start Tax | Jul 26, 2012 | FBAR, Tax Lawyer
Tax Resolution Service Company – A+ BBB Rating, Tax Resolution Firm, Former IRS 1-866-700-1040
We are comprised to Tax Attorneys, Tax Lawyers and Former IRS agents who specialize in FBAR.
We have over 206 years of professional tax experience and over 60 years with the IRS. We are true FBAR tax experts. Call us for a no cost consult. 1-866-700-1040.
We can take the stress and worry out of this FBAR process. Our Tax Attorneys and Tax Lawyers of some of the best.
What is FBAR?
F BAR is the new tool of the United States Government to collect billions of dollars from taxpayers with monies overseas.
F BAR reporting will be well scrutinized by the IRS starting 2013. Since the crack down of FBAR reporting three year ago the IRS announced two amnesty programs resulting in 33,000 persons submitting to voluntary filing. IRS collected over $5.5 Billion from this FBAR Program. More is coming.
It is very important to file before IRS contacts you. By doing this, you can avoid criminal prosecution if there is no willful intent.
Should the IRS contact you before you file contact us immediately.
Link to download F BAR Report Form – http://www.irs.gov/pub/irs-pdf/f90221.pdf
Who Should File an FBAR?
United States persons, taxpayers, are required to file an FBAR if:
- The United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and
- The aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported.
United States person means United States citizens;
United States residents; entities, including but not limited to, corporations, partnerships, or
limited liability companies created or organized in the United States or under the laws of the United States; and trusts or estates formed under the laws of the United States.
Exceptions to the Reporting FBAR Requirement
There are FBAR filing exceptions for the following United States persons or foreign financial accounts:
- Certain foreign financial accounts jointly owned by spouses;
- United States persons included in a consolidated FBAR;
- Correspondent/nostro accounts;
- Foreign financial accounts owned by a governmental entity;
- Foreign financial accounts owned by an international financial institution;
- IRA owners and beneficiaries;
- Participants in and beneficiaries of tax-qualified retirement plans;
- Certain individuals with signature authority over but no financial interest in a foreign financial account;
- Trust beneficiaries; and
- Foreign financial accounts maintained on a United States military banking facility.
FBAR Reporting and Filing Information
A person who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
By checking the appropriate block on F BAR-related federal tax return or information return questions (for example, on Schedule B of Form 1040, the “Other Information” section of Form 1041, Schedule B of Form 1065, and Schedule N of Form 1120) and filing the FBAR, satisfies the account holder’s reporting obligation.
The FBAR is not filed with the filer’s federal income tax return.
Remember, the granting, by the IRS, of an extension to file federal income tax returns does not extend the due date for filing an FBAR.
Call us if you have any questions, 1-866-700-1040. you can speak directly to Tax Attorneys and Former IRS agents.
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by Fresh Start Tax | Jul 25, 2012 | Christian IRS Tax Relief, Expatriate Tax, FBAR, Tax Lawyer, Tax Settlements
We are a Christian Tax Firm <>< specializing in IRS FBAR and Expatriate Tax Representation.
Call us today for a free Christian tax consult 1-866-700-1040.
We taught Tax Law at the IRS. We know the tax policies and tax procedures because we taught them at the IRS.
We are Biblical Based Christian Tax Firm in all our dealings so expect to hear the truth about your case.
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We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents, Managers and Instructors.
We have over 206 years of professional tax experience and over 60 years with the Internal Revenue Service.
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Proverbs 18:2 Fools have no interest in understanding; they only want to offer their own opinions.
FBAR and Expatriates
With the Federal Government finding over $5.5 billion dollars in Offshore Programs in the last two years, the Fed came out and said it will spend over $500,000 million in new revenue to help catch tax cheats and tax crimes.
What is the FBAR Voluntary Disclosure Practice
It is currently the practice of the IRS that a voluntary disclosure will be considered along with all other factors in the investigation in determining whether criminal prosecution will be recommended.
This voluntary disclosure practice creates no substantive or procedural rights for taxpayers, but rather is a matter of internal IRS practice, provided solely for guidance to IRS personnel. It is best to contact us directly because each case is based on its own merits.
A voluntary disclosure ( VD ) will not automatically guarantee immunity from prosecution; however, a voluntary disclosure may result in prosecution not being recommended. This practice does not apply to taxpayers with illegal source income.This is where we come in. The general rule, contact IRS before they contact you.
A voluntary disclosure occurs when the communication is truthful, timely, complete, and when:
1. the taxpayer shows a willingness to cooperate and does in fact cooperate with the IRS agent in determining his or her correct tax liability,
2. when the taxpayer makes a good faith arrangements with the IRS to pay in full, the tax, interest, and any penalties determined by the IRS to be applicable. Remember it is possible to abate penalties and interest. Honesty goes along way!
3. A full disclosure is timely if it is received before:
a. the IRS has initiated a civil examination or criminal investigation of the taxpayer, or has notified the taxpayer that it intends to commence such an examination or investigation;
b. the IRS has received information from a third party (e.g., informant, other governmental agency, or the media) alerting the IRS to the specific taxpayer’s noncompliance;
c. the IRS has initiated a civil examination or criminal investigation which is directly related to the specific liability of the taxpayer; or
d. the IRS has acquired information directly related to the specific liability of the taxpayer from a criminal enforcement action.
4. Any taxpayer who contacts the IRS in person or through a representative regarding voluntary disclosure will be directed to Criminal Investigation for evaluation of the disclosure.
Call today for a no cost Christian Tax Consult 1-866-700-1040.
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FBAR, Christian, IRS Tax Help, FBAR, Expatriate, Attorneys, Former IRS, FBAR, Expat Experts
by Fresh Start Tax | Jul 25, 2012 | FBAR, IRS Tax Problem, Tax Help, Tax Lawyer, Tax Settlements
Have Former IRS Agents and Tax Attorneys who taught Tax Law help with any FBAR issues you may have.
We know the IRS tax policies and settlement procedures.
India – FBAR Tax issues, resolutions and negotiations. We handle all criminal and civil cases. Let us take away your fear, anxiety or worry today.
Let our years at the IRS ease any discomfort about this issue. We taught Tax Law at the IRS and know the system.
Call us for a no cost professional tax consultation and speak directly to Expert FBAR Tax Attorneys, Lawyers, CPAs or Former IRS agents. 1-866-700-1040.
We are FBAR tax experts and provide Worldwide tax help for anyone seeking FBAR tax relief.
We have over 206 years of professional tax experience and over 60 years of working directly for the IRS.
If you are living an India and have any potential issues or the IRS has already contacted you call us today.
FBAR Filing Criteria as defined by the Internal Revenue Service.
In order to determine whether or not the FBAR is required, ALL of the following must apply:
1. The filer is a United States person;
2. The U.S. person has a financial account(s);
3. The financial account is in a foreign country ( India );
4. The U.S. person has a financial interest in the account or signature or other authority over the foreign financial account; and,
The aggregate amount(s) in the account(s) valued in dollars exceed $10,000 at any time during the calendar year. most individuals forget about the aggregate amount and this can lead to problems.
What is defined as a Financial Account by the IRS.
1. Bank accounts, such as a savings, demand, checking, deposit, time deposit, or any other account maintained with a financial institution or other person engaged in the business of a financial institution.
2.A bank account set up to secure a credit card account is an example of a financial account. An insurance policy having a cash surrender value is an example of a financial account.
3.Securities, securities derivatives, or other financial instruments account are also financial accounts.
4.Individual bonds, notes, or stock certificates held by the filer are not a financial account.
FBAR – INDIA – IRS FBAR Experts – Tax Attorneys, Lawyers, Former IRS – FBAR Help, Problems, Settlements
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