The Internal Revenue Service or IRS is not just interested in income that is earned within the borders of the United States. The agency wants to know about foreign bank and brokerage accounts and reportable income from foreign sources. In short, if you have a foreign bank account, investment or interest the IRS wants to be able to identify it, quantify it and tax it. Failure to report these offshore holdings, accounts and assets will result in substantial penalties and exposure to a prison sentence based upon criminal tax evasion. The IRS is quite serious about these issues and has already prosecuted and jailed several US persons with unreported offshore interests and substantially fined thousands more.
Extensive Experience With International Tax Matters
Janathan L. Allen, APC has extensive experience with international tax matters, including matters related to foreign bank accounts and FATCA. We provide solutions to an array of tax challenges. We can assist you by:
- Helping you clearly understand your tax liability
- Evaluating your assets and explaining your options for addressing pain points
- Ensuring Compliance with FBAR reporting requirements.
- Representing you in resolving a tax controversy
The firm is based in the San Diego, California, area and serves clients located in the United States, North America, Latin America, Europe and Asia. Tax lawyer Janathan L. Allen and her staff welcome the opportunity to serve you.
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