Foreign Reporting

When reporting foreign accounts to the IRS, cooperation and communication is key to a successful outcome.

International Tax Attorney in Miami, FL

Are you seeking a law firm for an FBAR Report of Foreign Accounts issue? Did you know the FBAR Form (now known as FinCEN Form 114) has nothing to do with income tax?

Yet, the IRS has been placed in charge of administrating the FBAR form, including FBAR penalties. We suppose it is because no other federal agency wanted the job and because the Treasury Department knew that the IRS has collection and enforcement structures in place. 

You may have heard the IRS can assess huge FBAR penalties and might be concerned about what will happen to you. If so, good. You should be afraid, as the IRS can act arbitrarily, especially when taxpayers do not find adequate representation.

If you’re concerned about your foreign reporting requirements, do not hesitate to get help. Working with a skilled tax attorney can help you avoid FBAR penalties or issues with FATCA compliance. That’s where EPGD Business Law can help. Learn more about how our international tax law firm can help you by calling 786-837-6787 or contacting us online.

Accomplish Foreign Reporting With Expert Legal Assistance

Foreign reporting is an in-depth process that requires effective communication if you make the wise choice to seek legal representation for overseas bank account reporting. When a firm like EPGD Business Law is assisting you with reporting off-shore bank accounts to the U.S. Government (a Treasury Program administered by the Internal Revenue Service), you must be prepared to:

  • Cooperate with the firm
  • Communicate with your bank(s) and financial institution(s) overseas
  • Facilitate an introduction and collaboration between your accountants and the firm

In addition, your legal counsel will instruct you on the necessary documentation you must collect and assist you with building an affidavit that tells your “story” so they can create the disclosure statement. 

Once everything is ready, your attorney will help you make your submission to the IRS. This could take over a month to create, depending on your facts and circumstances and the ease of assembling the affidavit and the supporting documents. Next, the IRS must assign someone to the case and contact your attorney’s office. This could take months.

As with any other case, if you haven’t heard from your international tax attorney’s office, there has been no activity or development. Conversely, once your lawyer hears or receives anything, they will contact you immediately. At this point, you can move the case forward and ensure there are no penalties that may put you at risk of litigation

Contact EPGD Business Law for Your Company’s Foreign Reporting

At EPGD Business Law, our skilled attorneys understand the process of effective foreign reporting from start to finish. We work closely with our clients to ensure their reports are accurate, comprehensive, and filed in accordance with IRS standards. We believe cooperation and communication are key, and the goal is always to help you with peace of mind and the lowest costs possible. Learn more about how we can assist you with your foreign reporting requirements by scheduling your consultation today. 


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