by Fresh Start Tax | Aug 30, 2012 | FBAR, Tax Lawyer
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.
Call us today for more details. 1-866-700-1040
Hear the truth and stop your worry.
by Fresh Start Tax | Aug 27, 2012 | FBAR, Tax Lawyer
With the advent of FBAR and the voluntary disclosure policies many taxpayers are on the cusp of a potential tax crime.
Much thought goes into the IRS pursuit of tax criminals. Obviously the IRS cannot pursue everyone so they pick and chose they victims carefully.
Much of the thought that goes into these cases will depend on the size of the case, the amount of tax owed, the willfulness of the intent, aspects of the deception and the possibility of conviction of the case and lastly, what is in the best interest of the U.S. government.
The Conviction rate is well in the favor of the U.S. government. As a general rule, they get there person historically about 90% of the time.
Each case is based on its own set of facts.
What is Voluntary Disclosure Practice of the IRS
It is currently the practice of the IRS that a voluntary disclosure will be considered along with all other factors in the investigation in determining whether criminal prosecution will be recommended.
Internal Practice of IRS
This voluntary disclosure practice creates no substantive or procedural rights for taxpayers, but rather is a matter of internal IRS practice, provided solely for guidance to IRS personnel.
Does not Guarantee Immunity
A voluntary disclosure will not automatically guarantee immunity from prosecution however a voluntary disclosure may result in prosecution not being recommended.
This practice does not apply to taxpayers with illegal source income.
When does Voluntary Disclosure Occur
A voluntary disclosure occurs when the communication is truthful, timely, complete, and when:
1. the taxpayer shows a willingness to cooperate (and does in fact cooperate) with the IRS in determining his or her correct tax liability; and
2. the taxpayer makes good faith arrangements with the IRS to pay in full, the tax, interest, and any penalties determined by the IRS to be applicable.
3. A disclosure is timely if it is received before:
4.. the IRS has initiated a civil examination or criminal investigation of the taxpayer, or has notified the taxpayer that it intends to commence such an examination or investigation;
5. the IRS has received information from a third party alerting the IRS to the specific taxpayer’s noncompliance;
6. the IRS has initiated a civil examination or criminal investigation which is directly related to the specific liability of the taxpayer; or
7. the IRS has acquired information directly related to the specific liability of the taxpayer from a criminal enforcement action (e.g., search warrant, grand jury subpoena).
If you have any questions whether a crime has been committed, call us today.
If you are having any issues and would like to speak directly to a tax attorney call us today for a no cost professional consult.
IRS Investigations!!!
Totals
Investigations Initiated
2502
Prosecution Recommendations
1765
Information/Indictments
1567
Total Convictions
1270
Total Sentenced*
1269
Percent to Prison
81.2%
Average Months to Serve
44
*Sentence includes confinement to federal prison, halfway house, home detention, or some combination thereof.
by Fresh Start Tax | Jul 28, 2012 | FBAR, Tax Lawyer, Tax Returns
Click Link for FBAR Form.
www.irs.gov/pub/irs-pdf/f90221.pdf
Call 1-866-700-1040 for a no cost professional tax consult and speak directly to Tax Attorneys, Tax Lawyers, CPA’s or Former IRS Agents.
We have over 206 years of professional tax experience and over 60 years working directly for the IRS.
We are FBAR Filing Experts!
Who has to file for FBAR? Make sure you know your rights.
If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, the Bank Secrecy Act may require you to report the account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).
The FBAR is required because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions.
Make sure you file before the IRS contacts you first.
Civil and Criminal Tax Representation available. All calls confidential and free. 1-866-700-1040.
FBAR FORM , Tax Attorney, Former IRS, F Bar Tax Help, Former IRS, Criminal, Civil Representation
by Fresh Start Tax | Jul 28, 2012 | FBAR, Tax Lawyer
We are a professional tax firm that specializes in FBAR tax issues and Overseas Reporting. 1-866-700-1040.
We are comprised of Tax Attorneys, Lawyers, CPA’s and Former IRS Agents and Managers.
We have over 60 years work experience at the IRS.
We taught Tax Law at the IRS and know the tax systems, tax procedures and settlement techniques.
Our experience can save your time, money and possible criminal prosecution.
With Switzerland being the hub for FBAR, it is one of the main targets for the Internal Revenue Service.
Since the UBS blowout on the exposing of Foreign Bank accounts both the Department of Justice and the IRS have had a field day.
With the threat of criminal and civil penalties over 33,000 persons have come forward and the IRS have collected over $5.5 Billion.
IRS is in committee and they are developing new software in there CADE 2 system to hook up with other countries to find tax cheats.
Next year you can expect much pres and print coming from the IRS as they are letting loose hundreds of new agents to work FBAR non reporting and criminal issues.
Remember find IRS before they find you. A tax fine and paying tax is far better than prosecution.
Just for the record.
An FBAR is a Report of Foreign Bank and Financial Accounts. The form number is TD F 90-22.1 (PDF).
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.
How a foreign country is defined. A “foreign country” includes all geographical areas outside the United States, the commonwealth of Puerto Rico, the commonwealth of the Northern Mariana Islands, and the territories and possessions of the United States (including Guam, American Samoa, and the United States Virgin Islands).
News as a result of a non FBAR filing Switzerland Bank UBS AG
A South Florida man has been sentenced to four months in federal prison after pleading guilty to failing to report accounts ( FBAR ) at Swiss Bank UBS AG.
Miami judge imposed the sentence on 62-year-old Luis Quintero of Miami Beach, Florida
Luis Quintero also must pay a $2 million Civil Penalty and was fined by the courts for an additional $20,000.
A review of the Court Documents finds Luis Quintero formed companies in the British Virgin Islands and Panama that were used to open the Switzerland UBS accounts.
The Switz bank accounts had more than $4 million big ones in them.
The prosecution is one of many in the U.S. following an agreement in which UBS Switzerland turned over identities of some of its U.S. customers.
Our Company Resume: ( Since 1982 )
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Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
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On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
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We taught Tax Law in the IRS Regional Training Center
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Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
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Highest Rating by the Better Business Bureau “A”
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Fast, affordable, and economical
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Licensed and certified to practice in all 50 States
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Nationally Recognized Veteran /Published Former IRS Agent
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Nationally Recognized Published EZINE Tax Expert
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As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
FBAR – SWITZERLAND – TAX ATTORNEYS – IRS FBAR EXPERTS – FORMER IRS – CIVIL, CRIMINAL TAX REPRESENTATION
by Fresh Start Tax | Jul 27, 2012 | FBAR, Representation, Tax Lawyer
We are a professional tax firm located in South Florida. We have serviced the South Florida Area since 1982. We are tax experts in IRS Tax Representation.
Call for a no cost professional tax consult. 954-492-0088
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents, Managers and Instructors.
As Former IRS Agents we worked in the South Florida IRS offices. We also worked in the district and regional offices of the IRS.
We taught Tax Law at the IRS. We know the system and closing procedures to save you time and money. We can take away your fear and worry.
We handle all criminal and civil IRS cases. Once we recognize and analysis the scope of your situation your case is assigned to a tax expert in that field.
Conversation may be privileged by request. Make sure you find IRS before they find you!
Latest News on FBAR and South Florida
A South Florida man has been sentenced to four months in federal prison after pleading guilty to failing to report accounts ( FBAR ) at Swiss bank UBS AG.
A Miami judge imposed the sentence on 62-year-old Luis Quintero of Miami Beach.
Luis Quintero also must pay a $2 million Civil Penalty and was fined by the courts for an additional $20,000.
A review of the Court Documents finds Luis Quintero formed companies in the British Virgin Islands and Panama that were used to open the UBS accounts.
The accounts had more than $4 million in them.
Our Company Resume: ( Since 1982 )
- Our staff has collectively over 205 years of Professional IRS Tax Representation Experience
- On staff, Board Certified Tax Attorney’s, IRS Tax Lawyers, Certified Public Accountants, Enrolled Agents,
- We taught Tax Law in the IRS Regional Training Center
- Former IRS Agents, Managers and Instructors with over 60 years experience in the local, district and regional IRS offices.
- Highest Rating by the Better Business Bureau “A”
- Fast, affordable, and economical
- Licensed and certified to practice in all 50 States
- Nationally Recognized Veteran /Published Former IRS Agent
- Nationally Recognized Published EZINE Tax Expert
- As heard on GRACE 90.3 FM Monthly Radio Show-Business Weekly
FBAR – Tax Attorneys, Tax Lawyers – FBAR Experts – Miami, Ft. Lauderdale, West Palm Beach – Criminal & Civil Tax Representation
