Getting help for international tax issues
It is easy to get into international trouble with the IRS.
First, some things you may think of as non-taxable are things the IRS wants to know about… and collect taxes on. Foreign pensions, foreign life insurance, foreign gifts and trusts, and foreign bank accounts. If you own any of these, you probably have a reporting requirement.
Second, something called “Universal Tax Jurisdiction” creates a lot of confusion. What it boils down to is that the US is the only country in the world that effectively taxes based on citizenship status. So, even if you’re a US citizen living and working overseas, you’re still subject to the IRS.
The IRS has made it clear that they are looking for tax returns and incorrect voluntary disclosures with technical errors to scrutinize. They are looking at taxpayers as targets for quotas, and not as actual people.
The IRS is the most complicated thing in the history of history. International taxation is even more complicated! We do not expect our clients to have a full (or even partial) understanding of the IRS. We know that you are probably confused, and don’t know the right questions to ask. We expect you to be nervous —with everything at stake, who wouldn’t be?
If you’re concerned and need help, contact us to set up a consultation. Your information is subject to the attorney client privilege. 888-727-8796 or firstname.lastname@example.org.
IRSMedic is the law office of Parent & Parent LLP, and we have over 10 years of experience in dealing with international tax issues like yours. We can answer questions like:
Do you really have to pay the 27.5% (0r 50%) offshore, FBAR penalty?
What if your bank is “blacklisted”?
How to find out if you are really “willful.”
Are there alternatives to using the Offshore Disclosure Program?
How can you keep your wits about you through this whole process? Remember, you have the moral high ground — not the IRS.
We have clients all around the globe, and while every case is unique, your issues — no matter how complicated — are probably things we have seen before and have dealt with successfully.
IRSMedic, the Law offices of Parent & Parent, LLP
Located in Connecticut, serving taxpayers around the globe
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