The typical client that contacts an OVDP attorney for offshore compliance issues has recently realized that they have foreign income and information reporting requirements, and are usually quite nervous. They’ve never been on the wrong side of the law and have never had the need to hire an attorney. They are terrified of the massive civil and sometimes even criminal penalties that can be assessed for noncompliance.
The good news is that the IRS allows such taxpayers to come into compliance through various offshore voluntary disclosure and streamlined programs. It can be difficult navigating through the complexities of these programs. Which one is right for you? What kind of penalties will be assessed? Do you need protection from criminal prosecution? We will complete a factual and legal analysis of your particular situation to come up with the best solution for your case. We keep the client involved in the process so they have a better understanding of the risks and benefits of the various options available to them.
For taxpayers who have undisclosed foreign financial assets and/or income, the IRS provides several options to remedy previous failure to comply with US tax and information reporting obligations. These options include:
• Offshore Voluntary Disclosure Program (OVDP)
• Streamlined Domestic Offshore Procedures
• Streamlined Foreign Offshore Procedures
• Delinquent FBAR submissions procedures
• Delinquent international information return submission procedures
Learn more about offshore compliance options. When you’ve done your research and are ready to contact an experienced tax attorney, contact us for a free confidential phone evaluation.
Before starting my law practice, I worked at a large accounting firm practicing in expatriate and foreign national tax, which is a specialized area of tax. Most OVDP attorneys do not understand the accounting aspect of offshore tax compliance. And accountants that do understand expat tax can’t offer you attorney-client privilege, which is vital for individuals with unreported foreign assets. I am able to offer you both.
In addition, only a small percentage of tax attorneys that practice in this area have experience at the IRS. My experience working at the IRS has added significant value to my clients. I know compliance officers, revenue agents, revenue officers, criminal investigators and attorneys at the IRS or that have previously worked there. It helps to have an understanding of the internal operations at the IRS and expertise to tap into if needed.
I am personally involved in all cases and easily accessible to clients. Unlike many companies, you won’t just get a 15 minute phone call from me and then work with an inexperienced associate for the remainder of the process.
I have successfully represented US and international clients with offshore assets held across the globe such as in Australia, Canada, Switzerland, Central America, Singapore, S. Korea, China, India, UK, Argentina, and elsewhere.