Tax Lawyers Who Can Help With Issues Related To Voluntary Disclosure
Residents of Nevada may have assets or bank accounts outside of the United states, or hold ownership interests in foreign corporations, trusts or other entities. They may not be aware of the myriad reporting requirements imposed under U.S. law such as Form TD F 90-22.1 (commonly known as the FBAR), Form 3520, Form 3520-A, Form 5471 and most recently Form 8938. Because these reporting obligations are enforceable by substantial civil and criminal penalties, many who have not complied in the past are uncertain how to rectify their situation.
At Solomon Dwiggins Freer & Steadman, LTD., in Las Vegas, our tax attorneys can help you understand your options and navigate the appropriate procedures. The IRS has instituted a voluntary disclosure program under which qualifying individuals with previously unreported foreign accounts and assets may come forward without the fear of criminal exposure and with predictable payment amounts. As part of this process, we can also assist you restructure or unwind foreign entities for greater U.S. tax efficiency.
How We Can Help
When we review your situation, we determine the potential liabilities you may have and the steps we can take to help reduce some of the consequences you may be facing. We will carefully explain what we feel your best options are for your situation, and discuss the avenues that you have available to you to put your tax issues behind you once and for all.
We will negotiate with the IRS, if needed, and advocate on your behalf with any litigation that is connected to the voluntary disclosures. We will work with you at each step of the process, and put you in a sound position to minimize any past or future issues that may arise.