With the aggressive position of the IRS on FBAR cases and the the new federal funding given to the IRS, the Service is going to ramp up a full force major attack on all FBAR cases.
The IRS has been training new Revenue Agents to have become ROBO-FBAR AGENTS to scare the taxpayers into submission and full tax compliance.
It has worked so far.
The commissioner of the IRS announced the IRS has collected over $5 Billion and much more is expected to come. Fear is a great motivator.
With this said, if currently you have professional tax needs in this area call us today for a free tax consult.
Speak directly with Board Certified Tax Attorneys, Tax Lawyers, CPAs and Former IRS Agents who are tax experts in the field of FBAR tax settlements, tax negotiations. We can answer all your questions with a no cost first consult.
What is new with FBAR
The standard penalty was recently increased from 25 percent to 27.5 percent.
In December 2011 the IRS issued FS-2011 that appeared to soften their attitude and provided that penalties will not be imposed in all cases. Check with us and see if you qualify for this.
Taxpayer (s) that remain out of compliance will likely eventually show up on the IRS radar screen. With IRS cutting more deals with countries and with new tax treaties being developed with new countries every day, FBAR will become a daily topic within the IRS because of the sheer volume of revenue it brings in.
New Revenue Agents Groups within the IRS have been formed with many Agents currently being trained simply to work these FBAR cases.
It should also be known these are highly skilled agents working these case.
If a taxpayer is notified the IRS is seeking FBAR info, it is vitally important they seek out legal representation.
Many times the IRS will play the criminal card.
On large dollar cases, Agents have the ability to make a criminal referrals to CI if the Agent feels that tax fraud is involved.
The IRS post lists on their website of all their current convictions.
Innocent Taxpayers with Compliance Problems
Many of our clients/taxpayers come from places all over the world.
Most do not face exposure to criminal tax issues.
Criminal tax problems typically involve intentional actions to hide the ownership of assets and income such as offshore trusts, pure and out right fraud and shell- type companies.
Most, about 95 % of our clients have simply failed to file FBARs, some have not filed tax returns for many years and these taxpayers do not owe any U.S. tax due to foreign tax credits as they pay higher rate foreign tax. Most are simply unaware or uninformed.
Reasonable cause and relief from penalties
There are a array of reasons the the IRS abates penalties and interest. There is a long list found on our website.
We usually go over the fact patterns of each individual case and develop a tax strategy for a successful abatement of penalties and interest.
On staff is a Former IRS Appeals Agent who over his 35 year career at IRS has probably worked more Abatement case than any I know.He exclusively works our abatement cases.
We handle all FBAR Cases, Tax Settlements, Negotiations. We can file all unfiled tax returns.
We are compromised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents
We are true FBAR Tax Experts, call us today. 1-866-7001-040
Thank you.
