The IRS in on the loose for FBAR Cases. With over 33,000 taxpayers coming forward the IRS collected over $5.5 Billion.
The IRS will continue there hunt. With the IRS receiving more than $500,000 million dollars next year, the IRS has already announced that FBAR will be one of the main targets simply because of the sheer volume of money it brings in to the US tax system.
We are comprised of Tax Attorneys, Tax Lawyers , CPA’s and Former IRS agents. We know the IRS tax system. We taught Tax Law at the IRS.
We are an International tax firm handling many cases at this current time in Thailand.
We can file all FBAR reports and handle your full tax representation.
Call us today for a no cost professional tax consultation and speak directly to a tax attorney lawyer. 1-866-700-1040.
How to get rid of IRS Penalties.
Failure to File and Failure to pay penalty.
Whether a failure to file or failure to pay is due to reasonable cause is based on a consideration of the facts and circumstances of your particular case.
Reasonable cause relief can and is generally granted by the IRS when you demonstrate that you exercised ordinary business care and prudence in meeting your tax obligations but nevertheless failed to meet them.
This is based on good solid common sense. We make sure the facts and circumstances of the reasonable cause passes the smell test.
In determining whether you exercised ordinary business care and prudence, the IRS will consider all available information on your case alone, including but not limited to :
1. Your tax compliance history over the past years,
2. The length of time between your failure to meet your tax obligations and your subsequent tax compliance,
3. Whether or not the circumstances beyond your control,
4. Were they medical or health issues that had arise,
5. Did you rely on bad tax advice.
Reasonable Cause that can abate penalties and interest.
Reasonable cause may be established if you show that you were not aware of specific obligations to file returns or pay taxes, depending on the facts and circumstances.
Among some of the facts and circumstances that IRS will be considered are:
1. Your education level,
2. Whether you have previously been subject to the tax and failed to do anything about it,
3. Whether you have been penalized before on the same tax issue,
4. Whether there were recent changes in the tax forms or tax law that you could not reasonably be expected to know. ( for non professionals , reasonable cause can be easier established )
Remember, each case is based on its own merit and no cases are the same. Sometime the smallest factors can change the scope of the case.
Reasonable cause due to ignorance.
You may have reasonable cause for noncompliance due to ignorance of the law if a reasonable and good faith effort was made to comply with the law or you were unaware of the requirement and could not reasonably be expected to know of the requirement.
For more on IRS Penalty and Abatement see our home page.
FBAR TAX ATTORNEY LAWYER – FBAR FILINGS – FBAR TAX SETTLEMENTS – THAILAND
