by Fresh Start Tax | Jul 20, 2012 | FBAR, Tax Lawyer
The word FBAR brings some sort of fear out of people. Yes it is a four letter word but we can help take the fear and worry out of FBAR.
We are an affordable tax specialty firm.
We are comprised of Board Certified Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents who were Managers and Former IRS instructors who taught Tax Law at the IRS.
We are IRS Tax Experts in FBAR. You may call us for a no cost professional tax consultation at 1-866-700-1040. You will speak directly to a tax professional. You will hear the truth and ways to alleviate your fears and worries. All calls can be made if requested under attorney-client privilege.
Why so much information about FBAR of late.
Once the Feds were able to get information from Swiss Financial and Banking institutions the US government found a huge amount of undisclosed monies. Billions and billions of dollars have seemed to go unreported and untaxed.
After the Swiss gave way so to did other countries from US pressure. The IRS has and is putting tax treaties in place to get a firm handle on this international market to collect all dollars it has coming in as revenue to its coffers. IRS is in a ruthless pursuit to catch tax cheats.
IRS has offered two programs thus far and has collected thru FBAR reporting over $5 Billion in tax and penalties. FBAR has made a big hit with the Congress. It is a pure revenue generator without taxation.
The fear of criminal prosecution and large fines have drove 33,000 taxpayers forward to file and pay large FBAR fines.
If you have a situation or a potential problem and you would like to speak about regarding FBAR or other issues, please call our Tax Attorneys, Tax Lawyers or Former IRS agents for a free consultation. Skype available.
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?
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. See also Notice 2010-23.
FBAR ATTORNEY, – Former IRS, Tax Attorney, Lawyers, FBAR EXPERTS, “A” Plus Rated
by Fresh Start Tax | Jul 19, 2012 | FBAR, Tax Help, Tax Lawyer, Tax Settlements
FBAR Penalties – IRS Tax Help – Owe Back Taxes, Settle – Former IRS, Tax Attorneys, Lawyers – FBAR Experts 1-866-700-1040
We are FBAR tax experts that can solve your tax problems.
We are comprised of Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents.
We taught Tax Law at the IRS. We know the procedures and policies.
We have over 60 years with the IRS and over 205 years of professional tax experience.
We can help get rid of or abate penalties and interest, provide solid tax help advice, and help settle any back tax issues you may have. We are affordable.
You may call us for a no cost professional tax consult. 1-866-700-1040
FBAR Penalties, Reasonable Cause
Whether a failure to file or failure to pay is due to reasonable cause is based on a consideration of the facts and circumstances. Each case is very different.
IRS reasonable cause relief is generally granted by the IRS when you demonstrate that you exercised ordinary business care and prudence in meeting your tax obligations but nevertheless failed to meet them.
Documentation is a key criteria.
In determining whether you exercised ordinary business care and prudence, the IRS will consider all available information, including but not limited to :
1. The reasons given for not meeting your tax obligations;
2.Your compliance history;
3. The length of time between your failure to meet your tax obligations and your 4.Subsequent compliance; and
5.Circumstances beyond your control.
IRS reasonable cause may be established if you show that you were not aware of specific obligations to file returns or pay taxes, depending on the facts and circumstances of your case.
Among other of facts and circumstances that will be considered by the IRS are:
1. Your education;
2.Whether you have previously been subject to the tax;
3. Whether you have been penalized before;
4.Whether there were recent changes in the tax forms or law that you could not reasonably be expected to know; and
5. The level of complexity of a tax or compliance issue.
You may have reasonable cause for noncompliance due to ignorance of the law if a reasonable and good faith effort was made to comply with the law or you were unaware of the requirement and could not reasonably be expected to know of the requirement.
FBAR Penalties, IRS Tax Help, Owe Back Taxes, Settle, Former IRS, Tax Attorneys, Lawyers, FBAR Experts
by Fresh Start Tax | Jul 13, 2012 | Expatriate Tax, FBAR, IRS Tax Experts, Offshore Program, Tax Help, Tax Lawyer
Is the IRS on your mind? Let us permanently resolve your tax issue.
We taught Tax Law at the IRS and know there tax settlement policies.
Let us take away the fear and worry. You will never have to talk to the IRS.
We are tax experts for US Citizens, UAE, Dubai Tax Issues.
Call us or skype us for a no cost consult.
1-866-700-1040 SKYPE PASSWORD – freshstarttax
We know exactly what the IRS will do because we are Former IRS Agents. As a result, we know all their tax policies, codes and closing procedures used to settle every type of case.
We are comprised of Tax Attorneys, CPA’s and Former IRS agents and managers.
We taught Tax Law at the Internal Revenue Service. We have over 60 years with the IRS and over 206 years of total tax experience.
How to save tax and keep your money.
Did you know that foreign earned income exclusion, the foreign housing exclusion, and the foreign housing deduction are based on foreign earned income?
For this very purpose, foreign earned income is income you receive for services you perform in a foreign country during a period your tax home is in a foreign country and during which you meet either the bona fide residence test or the physical presence test.
Earned income is pay for personal services performed, such as wages, salaries,or professional fees.
The list that follows classifies many types of income into three categories. The column headed Variable Income lists income that may fall into either the earned income category, the unearned income category, or partly into both.
For more information on earned and unearned income, see Earned and Unearned Income, below.
Classification of Types of Income
| Earned Income |
Unearned Income |
Variable Income |
| Salaries and wages |
Dividends |
Business profits |
| Commissions |
Interest |
Royalties |
| Bonuses |
Capital Gains |
Rents |
| Professional fees |
Gambling winnings |
|
| Tips |
Alimony |
|
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Social security benefits |
|
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Pensions |
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|
Annuities |
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Call today for a no cost consult. 1-866-700-1040.
US Citizens Taxes, UAE, Dubai, IRS Tax Experts, Help, Problem, Tax Filings, Former IRS, Attorneys, Expatriate, FBAR
by Fresh Start Tax | Jul 7, 2012 | Back Taxes, FBAR, Representation, Tax Lawyer, Tax Settlements
If you are looking for a true IRS Tax Experts for FBAR or Offshore Tax Issues call Fresh Start Tax LLC for a no cost professional tax consultation. 1-866-700-1040.
We are staffed with Tax Attorneys, CPA’s and Former IRS agents.
We have over 205 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service.
We taught Tax Law as former IRS agents.
Offshore Tax Issues are on the rise and with the new Health Care Program the IRS will be hiring over 15,500 new IRS Agents. Due to the success from the first two Offshore Programs the IRS has already said that much of their budget will be spent on Offshore targets because of the high volume of success.
Many Offshore taxpayers, Expatriates and others have no need to worry. The filing requirements are laid out and the IRS is making there filing program available on line.
However, there are a considerable amount of taxpayers who were suppose to file but never did so. If you fall in to that categorize you need be concerned.
If you are a individual with International interest and if you own property abroad or have foreign bank accounts, you need a professional tax firm with a specialized expertise in international/ foreign tax law.
Our Professional Service include but not limited to:
1. Reporting for foreign corporations, partnerships, LLC’s, trusts and individuals,
2. Tax Treatment of Passive Foreign Investment Companies,
3. Determination of residency for income tax purposes for foreign nationals,
4. Application of Tax Treaties and Tantalization Agreements to minimize United States Tax and effects on Social Security,
5. State residency tests and particular domicile issues
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
by Fresh Start Tax | Jul 5, 2012 | Expatriate Tax, FBAR, Representation, Tax Lawyer, Tax Settlements
Expatriate or FBAR . We are a Professional Tax Representation Firm staffed with Tax Attorneys, Tax Lawyers, CPA’s and Former IRS Agents. We are a specialized Tax Firm.
If you are seeking a professional tax firm that can reduce your tax debt call us today for a no cost professional tax review and consult. 1-866-700-1040
Knowing the Tax Laws can save you big money. Consider this, we taught Tax Law at the IRS as former IRS Agents.
At Fresh Start Tax L.L.C., we are comprised of Board Certified Tax Attorneys, Lawyers, CPA’s and Former IRS Agents that have over 205 years of professional tax experience.
We have over 60 years work experience in the audit, collection and IRS management.
We are a true experienced professional tax representation firm.
Save your money!
There are so many different opportunity’s for United States Expatriates to both save and avoid the double taxation through the use of tax exclusions. Some of these exclusions are:
1. Foreign Earned Income Exclusion.
2. Housing Exclusion,
3. Housing Deductions
4. Foreign Earned Income Tax Credits,
5. Foreign Tax Credits
What is a Foreign Source Income?
Generally foreign source income received by a nonresident alien is not subject to U.S. taxation.
United States Source Interest Income that is not connected with a United States trade or business is excluded from income if it is from:
1. Deposits (including certificates of deposit) with persons in the banking business,
2. Deposits or with sustentation accounts with mutual savings banks, cooperative banks,credit unions, domestic building and loan associations, and other savings institutions chartered and supervised as savings and loan or similar associations under federal or state law, if the interest paid or credited can be deducted by the association,
3. Amounts held by an insurance company under an agreement to pay interest on them,
4. Interest on obligations of a state or political subdivision, the District of Columbia, or a United States possession, generally is not included in income.
However interest on certain private activity bonds, arbitrage bonds, and certain bonds not in registered form is included in income, or U.S. source interest income that is not connected with a United States. trade or business and that is portfolio interest on obligations issued after July 18, 1984, is excluded from income. Check you with with your particular situation.
Should you have any questions regarding Expatriate Tax Laws, Tax Filings or FBAR requirements, call us today for a no cost professional tax consultation. 1-866-700-1040.
We can represent you in all your tax or IRS matters and offer winning tax solutions.
We also can file all back tax returns and settle your back taxes with an offer in compromise.
