The IRS begins accepting 2017 tax returns as tax season is upon us. Allen Barron is uniquely structured to prepare and file your international, domestic, business and personal tax returns. Our tax attorneys are supported by Allen Barron’s accounting professionals as we work toward this year’s deadline of April 17. The traditional date of April 15 falls upon a Sunday, and Monday April 16 is “Emancipation Day” in Washington D.C. providing two extra days for this year’s filing deadline.
It is important to begin working on your tax returns as soon as possible as the availability of all accounting and tax preparation experts is reduced as each week passes. Those who are concerned about identity theft may wish to file as soon as possible to prevent tax fraud and complications created when scammers file a fraudulent return in an attempt to generate a tax refund. The IRS provides specific guidelines for those who are concerned about tax fraud, and those who suspect their identity may have been compromised should file a report with the Treasury Inspector General for Tax Administration.
Allen Barron provides expert advice to those with international investments to help avoid PFIC complications and FBAR reporting violations. If you have omitted offshore bank accounts, investment accounts and other assets on previous years tax returns our skilled tax attorneys can guide you through the options available in the Streamlined Offshore Domestic (Foreign) Procedures or the Offshore Voluntary Disclosure Program or OVDP. One should not assume the easy way out of claiming non-willful conduct as the IRS continues to pursue it’s policy of “willful blindness.” Willful blindness asserts the longstanding IRS requirements for all US taxpayers to know their responsibilities under US tax law and to report accordingly. Many who have filed applications under the streamlined program have been rejected by the IRS, who immediately seeks draconian penalties, interest and in some cases criminal prosecution for tax evasion.
As the IRS begins accepting 2017 tax returns we invite those with complex returns based upon business interests, S-Corporation shareholders, LLC and Corporate business owners and those with international investments or accounts to contact Allen Barron or call for a free consultation at 866-631-3470.