Find the IRS before they find you.
After 38 years of professional IRS tax experience that is my best advice to you.
If you need FBAR & Voluntary Disclosure help call Fresh Start Tax LLC and speak directly to Tax Lawyers, Tax Attorneys, Former IRS – FBAR Tax Representation
Call today for a no cost professional tax consultation. 1-866-700-1040.
With much in the news about FBAR and Voluntary Disclosure, there are some very common questions asked.
Within the advent of UBS and FBAR the IRS has been hopped up about bringing into tax compliance offshore monies that have not been reported to the feds. Yes, IRS will make these cases federal investigations because of the huge scale of revenue that is brought in through FBAR alone. IRS received over the past three years over $5 billion.
IRS has found the pot of gold and the pursuit is expected to be ramped up even more in the upcoming years.
Voluntary Disclosures
Why you should make a voluntary disclosure.
Taxpayers or individuals with undisclosed foreign accounts or entities should make a voluntary disclosure ( VD ) because it allows them to become tax compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution.In cases of extreme willfulness this may not be the case.
Talk to us if you fall in this categorize. Believe this criminal prosecution element, the FEAR of IRS should be enough to make sure you do the correct thing. IRS posts the criminal violators on their website. Go to IRS.gov
Getting professional tax help will assure you the very best possible results, the avoiding of criminal prosecution and the reduction of penalties and interest.
Making a voluntary disclosure also provides the opportunity to calculate with a reasonable degree of certainty the total cost of resolving all offshore tax issues.
You may not like what you hear however you must be tax compliant.
Taxpayers ( individuals ) who do not submit a voluntary disclosure run the risk of detection by the IRS and the imposition of substantial penalties, including the fraud penalty and foreign information return penalties, and an increased risk of criminal prosecution.
What is the IRS’s Voluntary Disclosure Practice? ( VDP )
The Voluntary Disclosure Practice is a longstanding practice of IRS Criminal Investigation ( CI ) of taking timely, accurate, and complete voluntary disclosures into account in deciding whether to recommend to the Department of Justice that a taxpayer be criminally prosecuted. There are specific code sections that deal with these matters.
When a taxpayer truthfully, timely, and completely complies with all provisions of the voluntary disclosure practice, the IRS will usually not recommend criminal prosecution to the Department of Justice.
Remember, find IRS before they find you.
What form should my voluntary disclosure take?
You may either contact the nearest Special Agent in Charge, ( each office has there won special agent for this matter ) IRS Criminal Investigation, stating that you wish to make a voluntary disclosure, or provide a letter outlining information needed to assist the IRS in determining your acceptance into the voluntary disclosure program. a word of caution here, do this with retention of a tax attorney, tax lawyer or former IRS agent who knows the system. Do not be foolish.
Call us today to find out more details. 1-866-700-1040.
FBAR & Voluntary Disclosure, Tax Lawyers, Tax Attorneys, Former IRS, FBAR Tax Representation
