Has the IRS decided to shut down the application process for the Streamlined Domestic Offshore Procedures under FBAR? Streamlined applications for FBAR compliance used to be submitted to the IRS via facsimile. The IRS has recently stopped access to fax submission of streamlined applications, and this may be a sign...
Can Foreign Nationals in the US Become FBAR Compliant with a Streamlined Application?
The experienced international tax attorneys at Allen Barron will work with you to develop the most effective strategy to disclose offshore bank accounts, investments, assets and income to the IRS. My name is Janathan Allen, and many foreign nationals in the US become FBAR compliant with my assistance. They are unaware...
Are Foreign Nationals US Residents for IRS Tax Purposes?
Many foreign nationals come to the US each year, often under an H1-B visa, in order to live and work. It is important for you to understand US tax laws as a resident of the United States - even if you have not yet received a green card or other permanent...
Experienced San Diego OVDP Attorney Explains Advantages of IRS Offshore Disclosures
Why should a US taxpayer consider the Offshore Voluntary Disclosure Program or OVDP to come into compliance with IRS FBAR and offshore reporting requirements? Janathan Allen, an experienced San Diego OVDP attorney explains the advantages of IRS offshore disclosure programs, and why it is important to comply: FATCA established an...
The World is Becoming Much Smaller for Tax Evasion
It is a bitter pill to swallow. There are fewer and fewer secrets. The world is becoming much smaller for tax evasion and the authorities have broken the backs of banks and financial institutions worldwide. They have used FATCA to drag huge Swiss Banks and Cayman Island institutions into court...
Important Tax Information for Foreign Nationals in US
Are you a foreign national living or working in the United States? Allen Barron has important tax information for foreign nationals in US territories or who live and work in any of the 50 states: You are required to report all foreign bank accounts, investments and assets to the IRS...
None of My Friends are Worried About FBARs Why Should I?
Foreign nationals who reside in the United States and those who are here working on an H1-B visa are required to report all offshore bank and investment accounts, assets and income to the IRS and to come into compliance with FBAR reporting. We have heard many clients ask: "None of my...
How Complicated is a Non-Willful Claim on IRS Streamlined Application?
How complicated is a non-willful claim on IRS Streamlined application form 14654? Lets just say the IRS isn't going to take your word for it, slap you on the wrist with a 5% penalty and send you on your way. In fact, the Streamlined Domestic Offshore Procedures form 14654 requests...
IRS Audit Brings Many Challenges
An IRS audit brings many challenges to a US taxpayer. Here in San Diego, the IRS revenue officers or auditors are extremely aggressive. The first challenge for our clients is to remain calm. The IRS Notification of Audit letter is sure to make most hearts miss a beat. However, the...