by Fresh Start Tax | Jul 24, 2012 | FBAR, Tax Lawyer
We are a a professional tax firm that specializes in all IRS tax matters and FBAR case matters.
You may contact us for a free consultation and speak directly to a Tax Lawyer that is an expert in FBAR. 1-866-700-1040.
We are fair, honest and will tell you the truth about your FBAR matter. We can take away the worry and fear from any anxiety you may be feeling. You will never have to speak to the Internal Revenue Service. Our Tax Lawyers are excellent.
Do not feel threatened by the IRS, let our years of IRS tax experience work for you.
We have over 206 years of professional tax experience and over 60 years of working directly for the IRS in the local, regional and district offices including teaching tax law at the IRS.
Voluntary Disclosure for FBAR
Two of the most asked questions are found below. Should you have any questions please call us regarding these questions or others you may have.
Why should I make a voluntary disclosure?
Taxpayers with undisclosed foreign accounts or entities should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution.
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.
Taxpayers 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?
The Voluntary Disclosure Practice is a longstanding practice of IRS Criminal Investigation 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. IRS is just beginning to ramp up future enforcement and has a budget of $500 Million additional set for this year alone.
It enables non-compliant taxpayers to resolve their tax liabilities and minimize their chances of criminal prosecution.
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.
Call us to walk you thru this process. 1-866-700-1040.
FBAR , Lawyers, Former IRS, FBAR Specialist, Affordable, FBAR Experts
by Fresh Start Tax | Jul 23, 2012 | FBAR, IRS Tax Problem, Tax Help, Tax Lawyer
FBAR – Help, Problems, Resolutions – Tax Attorneys, Former IRS – FBAR Experts 1-866-700-1040
Call today for a no cost professional tax consultation 1-866-700-1040 and speak directly to a FBAR tax attorney would is a tax expert.
If you are looking for FBAR Help or have a tax problem relating to FBAR call us today for a no cost professional tax consultation to permanently get your FBAR problem resolved.
Let us help relieve any fear or worry. Stop worrying!
Free consult 1-866-700-1040. Speak directly to Tax Attorneys, Lawyers or Former IRS agents.
We have over 206 years pf professional tax experience and over 60 years of working directly for the IRS.
We taught Tax Law at the IRS. It only makes sense directly to Former IRS agents who know the internal workings of IRS. Use our experience for your benefit.
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. See also Notice 2010-23.
Make sure you contact IRS before the IRS contacts you!
Overview for FBAR
The Financial Crimes Enforcement Network (FinCEN) delegated to IRS its enforcement authority for penalties imposed under Title 31, Sections 5314 – 5321 for the failure to file Form TD F 90-22.1 Report Of Foreign Bank And Financial Accounts (FBAR) .
Form TD F 90-22.1 , Report of Foreign Bank and Financial Accounts, must be filed by US persons who have a financial interest in, signature authority, or other authority over one or more financial accounts in foreign countries with an aggregate value exceeding $10,000 at any time during the calendar year.
If you failure to file this form it could result in civil and or criminal penalties. The civil penalties may be appealed. Should the case go criminal it will be a long hard road.
FBAR penalties may come to Appeals as stand-alone cases or together with a related income tax or international penalty.
Call us for a free tax consultation today and see how we can give you professional FBAR help to completely solve your tax problems.
We have been resolving FBAR cases since 1982 and we are the go to firm for professional Fbar help.
FBAR, Help, Problems, Resolutions, Tax Attorneys, Former IRS, FBAR, Experts
by Fresh Start Tax | Jul 23, 2012 | FBAR, Tax Lawyer
We are FBAR Tax Experts. Attorneys, Lawyers and Former IRS Agents who know the system and techniques of FBAR cases.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPAs, and former IRS agents, managers and instructors. We taught IRS Tax Law.
We have a combined 205 years of professional tax experience and over 60 years with the IRS.
We handle all FBAR resolutions and FBAR tax settlements.
The specific reason you would use our firm is simply this, we taught Tax Law at the IRS and know their settlement techniques and tax policies to settle and manage cases.
Few professional tax firms have any direct IRS expertise or experience.
What is going on with FBAR.
There is absolutely no question that the Federal Government will be in full engagement for FBAR tax cases. With the IRS collecting over $5.2 Billion in their overseas operations on last count, this three year program has yielded tremendous benefits from very wealthy taxpayers. The IRS has found a huge revenue source without raising taxes.
Coupled with the fear of criminal prosecution, makes FBAR a win-win for the IRS.
Under the new budget guidelines for the upcoming year the IRS was awarded $500 Million to sure up there compliance programs and the FBAR Program is a high priority target for the IRS.
What is the FBAR Filing Criteria
In order to determine whether or not the FBAR is required, all of the following must apply:
1. The filer is a U.S. person;
2. The U.S. person has a financial account(s);
3. The financial account is in a foreign country;
4. The U.S. person has a financial interest in the account or signature or other authority over the foreign financial account; and,
5. The aggregate amount(s) in the account(s) valued in dollars exceed $10,000 at any time during the calendar year.
If you need any questions answered call us for a no cost professional tax consult. 1-866-700-1040.
You can request attorney client privilege if necessary.
Get of hold of IRS before they get a hold of you.
FBAR Tax Attorneys, Tax Lawyers, FBAR Resolution, Settlements, Former IRS, FBAR Problem Experts
by Fresh Start Tax | Jul 23, 2012 | FBAR, Tax Lawyer
We have a National Tax Practice specializing in FBAR matters world wide. We are comprised of Board Certified Tax Attorneys, Lawyers, CPA’s and Former IRS Agents and Managers.
We have over 205 years of professional tax experience and over 60 years of working directly for the IRS in the local, district and regional offices of the IRS. We also worked in IRS Management.
As a result of our years of direct IRS experience we know all the tax policies, tax procedures, and settlement techniques because of expertise in IRS.
We also taught Tax Law at the IRS. We taught New IRS Agents their craft.
With a National Tax Practice we are licensed to practice anywhere in the world in regard to IRS Tax Matters.
We are directly involved in tax settlements, the filing of back tax returns, negotiations of penalties and interest, offers in compromise and lastly IRS tax audits.
You will never have to speak to the IRS. It is very important for taxpayers to understand it is much better for us or the taxpayer to notify IRS before they notify you the taxpayer.
In cases where the taxpayer made full disclosures few cases were ever brought to CI.
Call us for a no cost consultation. 1-866-700-1040
FBAR also known as Foreign Bank and Financial Accounts:
What is an FBAR? – 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? – 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.
Call or SKYPE us for a no consult and speak directly to a tax professional.
All conversations can be made if request under attorney client privilege.
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
