Are you are US citizen living in Panama and need FBAR tax help and tax relief call us today and speak directly to a FBAR Tax Attorneys, Tax Lawyers, CPAs or Former IRS Agents.
Whether you have a Civil or Criminal Problem we can help you so stop the worry today.
1-866-700-1040. Panama, SKYPE available.
Because of the volume of US citizens living in Panama, the IRS will have a very active presence working the area of Panama and foreign tax compliance.
FBAR has resulted in the US government receiving over $5 billion in the inaugural years and the IRS intends to find fortunes of unreported income.
If you are in full compliance you have nothing to worry about whatsoever.
However if there are tax returns and FBAR reports outstanding, it would be in your best interest to contact a tax representative and find your way into full compliance with the IRS.
If you beat IRS to the punch by contacting them, the chance of criminal elements are virtual gone the majority of time. We can give you more info simply by calling us.
Bank Secrecy Act
The United States Congress passed the Bank Secrecy Act in 1970 as the first laws to fight money laundering in the United States.
The BSA requires businesses to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters.
The documents filed by businesses under the BSA requirements are heavily used by law all major enforcement agencies, both domestic and international to identify, detect and deter money laundering whether it is in furtherance of a criminal enterprise, terrorism, tax evasion or other unlawful activity. This information is now share with many government agencies.
The IRS has there eyes set not only on terrorism and criminal drug activity but now have the resources to work and manage tax evasion.
The Internal Revenue Service is a partner in the U.S. National Money Laundering Strategy. This is a very power team of law enforcement agencies.
The IRS seeks to achieve a balance between enforcement of the money laundering laws and education.So far the IRS has done a very poor job regarding the education because the do it u r selvers are ages behind tax professionals.
New Reporting Requirements by U.S. Taxpayers Holding Foreign Financial Assets (Form 8938)
Taxpayers that have specified foreign financial assets that exceed certain thresholds must report those assets to the IRS on Form 8938, Statement of Specified Foreign Financial Assets.
The new Form 8938 filing requirement does not replace or otherwise affect a taxpayers requirement to file FBAR. A chart providing a comparison of Form 8938 and FBAR requirements, and other information to help taxpayers determine if they are required to file Form 8938.
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