Have a late FBAR filing?
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You can speak directly to a Tax Attorneys, Lawyers, CPAs or Former IRS Agents all who are IRS tax experts.
We have over 206 years of professional tax representation experience and over 60 years of working directly for the IRS. We taught Tax Law.
If you have a late filing of FBAR we can represent you before the IRS so you will never have to speak with the IRS.
We can work out a tax settlement ( offer in compromise ) and look to abate some of the penalties and interest should your filing result in tax.
FBAR is high gear the feds fully plan to make FBAR Reporting a high priority and a target within the IRS because of the success of the program.
Over 33,000 FBAR filers came forward producing $4.4 billion large.
When the Obama Health Care Plan was signed it allowed for the hiring of 15,000 new agents.
IRS has picked out premium targets and Expatiates and FBAR will be two on their high priority lists.
The first question taxpayers ask regarding FBAR is simply,
Who must file an FBAR?
Any United States person who has a financial interest in or signature authority or other authority over any financial account in a foreign country, if the aggregate value of these accounts exceeds $10,000 at any time during the calendar year.
The Reporting and Filing Information for FBAR
A person(s) who holds a foreign financial account may have a reporting obligation even though the account produces no taxable income.
Checking the appropriate block on FBAR – 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 to be filed with the filer’s federal income tax return.
The granting by the IRS of a tax extension to file federal income tax returns does not extend the due date for filing an FBAR.
You may not request an extension for filing the FBAR.
The FBAR is an annual report and must be received by the Department of the Treasury in Detroit, MI, at one of the two addresses below, on or before June 30th of the year following the calendar year being reported.
File by mailing the FBAR to:
United States Department of the Treasury
P.O. Box 32621
Detroit, MI 48232-0621
If an express delivery service is required for a timely filed FBAR, address the parcel to:
IRS Enterprise Computing Center
ATTN: CTR Operations Mail Room, 4th Floor
985 Michigan Avenue
Detroit, MI 48226
Let us take the fear out of FBAR. Call today for a free tax consult. 1-866-700-1040
FBAR – Late Filing, Settlement, Reduce Penalties – Tax Attorneys, Former IRS – FBAR Tax Experts
