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
by Fresh Start Tax | Jul 20, 2012 | FBAR, Representation, Tax Lawyer, Tax Returns, Tax Settlements
FBAR – Tax Attorneys, Experts in FBAR Representation – Filing, Negotiation, Settlements Former IRS.
Free Tax Consults 1-866-700-1040
We are FBAR Tax Experts. We we staffed with Tax Attorneys, Lawyers, CPA’s and Former IRS agents who have 60 years of direct work experience at the IRS in the local, district and regional offices of the IRS.
We have a total of 205 years of professional tax experience in all areas of the IRS including FBAR Representation, FBAR Filing, FBAR Negotiations, FBAR Tax Audits, FBAR Settlements,
FBAR and what you need to know.
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). With Foreign Financial Instructions now reporting to the IRS it is critical to follow up and file your FBAR 90-22.1
The FBAR is required because foreign financial institutions are not usually subject to the same reporting requirements as domestic financial institutions.
The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent, hide, evade or deceive with criminal intent the United States Tax Laws.
The FBAR Program to date has yielded the Federal Government over $5 Billion when over 33,000 persons came forward.
Our Tax Attorneys who are experts in RBAR Representation can steer you away from trouble and worry.
Common Questions ask regarding FBAR.
What happens if an account holder is required to file an FBAR and fails to do so?
The failure to file an FBAR when required to do so can potentially result in civil penalties, criminal penalties or both. If you learn you were required to file FBARs for earlier years, you should file the delinquent FBAR reports and attach a statement explaining why the reports are filed late.
No penalty will be asserted if the IRS determines that the late filings were due to reasonable cause. Keep copies of what you send for your records.
Can cumulative FBAR penalties exceed the amount in a taxpayer’s foreign accounts?
May civil penalties be assessed?
Yes, under the penalty provisions found in 31 U.S.C. 5314(a)(5), it is possible to assert civil penalties for FBAR violations in amounts that exceed the balance in the foreign financial account.
How long should account holders retain records of the foreign accounts?
Records of accounts required to be reported on an FBAR must be retained for a period of five years. Failure to maintain required records may result in civil penalties, criminal penalties or both.
FBAR, Tax Attorneys, Experts in FBAR Representation, Filing, Negotiation, Settlements, Former IRS
by Fresh Start Tax | Jun 25, 2012 | FBAR
FBAR – Tax Attorneys, CPAs, Former IRS – Miami, Ft.Lauderdale, Palm Beaches – IRS Tax Experts 954-492-0088
Hire True FBAR Local Experts!
We are a Professional Tax Firm specializing in FBAR cases and IRS Tax Representation.
We are experts in the field and all information that comes to us is covered under “attorney-client privilege.
We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents and Managers.
We are staffed with Former IRS Audit Managers as well as Former IRS Appellate Officers. We have a combined 205 years of direct IRS tax experience and over 60 years of working in the local South Florida IRS offices as well as in the district and regional offices.
When employed by the IRS we were teaching Agents that taught Tax Law at the IRS.
What is FBAR?
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.
The tool of FBAR.
The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. The IRS has been very aggressive in working the FBAR cases because of the large review brought in by these cases.
Federal Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.
Foreign Bank and Financial Accounts Report (FBAR) Responsibilities
The Financial Crimes Enforcement Network (FinCEN) today issued a rule that amends the Bank Secrecy Act (BSA) implementing regulations regarding the Report of Foreign Bank and Financial Accounts (FBAR).
FBAR Requirements
The FBAR filing requirements, authorized under one of the original provisions of the BSA, have been in place since 1972. The FBAR form is used to report a financial interest in, or signature or other authority over, one or more financial accounts in foreign countries. No report is required if the aggregate value of the accounts does not exceed $10,000.
On February 26, 2010, FinCEN issued a Notice of Proposed Rule making (NPRM) addressing the FBAR rules.
The final rule adopts the proposed changes with slight modifications. The preamble to the final rule explains FinCEN’s approach to issues raised in comments submitted in response to the NPRM from tax professionals and industry experts.
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Call us for a free tax consult 1-866-700-1040
FBAR – Tax Attorneys, CPAs, Former IRS – Miami, Ft.Lauderdale, Palm Beaches – IRS Tax Experts – South Florida
by Fresh Start Tax | Jun 25, 2012 | FBAR, IRS Tax Problem, Tax Help, Tax Lawyer
FBAR Tax Attorney – IRS Tax Experts – Former IRS – IRS Tax Representation
We are a Professional Tax Firm specializing in FBAR IRS tax representation.
We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents and Managers.
We are familiar with all areas of the FBAR and can help you through any situation or problem you may have. We handle all areas of tax representation and you will never have to talk to the IRS.
We have over 205 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service in all facets of the IRS.
We are True IRS Tax Experts. We also taught Tax Law at the Internal Revenue Service.
Call us today for a no cost professional consult and speak direct to Tax Attorneys, CPA’s or Former IRS Agents.
We handle all aspects of FBAR and all tax representation can be if necessary conducted under attorney-client privilege.
INFORMATION FOR – FBAR – Foreign Bank Financial Accounts
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.
The FBAR is a tool to help the United States government and the Internal Revenue Service identify person(s )who may be using foreign financial accounts to circumvent United States tax law.
Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.
3 of the most FAQ’s
What is an FBAR?
A. An FBAR is a Report of Foreign Bank and Financial Accounts. The form number is TD F 90-22.1 (PDF).
Who must file an FBAR?
A. 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.
Q. What is a foreign country?
A. 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).
What is a United States person?
A. “United States person” includes a citizen or resident of the United States, a domestic partnership, a domestic corporation, and a domestic estate or trust.
Call us today for a no cost professional tax consult. 1-866-700-1040
FBAR Tax Attorney’s – Affordable IRS Tax Experts – Former IRS – IRS Tax Representation
