Washington Business Taxation Lawyer
In the past, Swiss bank accounts were nearly impenetrable. That is no longer the case. Foreign Bank Account Reporting (FBAR) regulations for offshore accounts have made it much easier for the IRS to penetrate these accounts. The IRS is taking advantage of this fact, hiring more and more staff to focus specifically on overseas accounts to ensure that money is not being deposited overseas unreported. Individuals caught doing so could face serious consequences.
The Bellevue, Washington, law firm of Lana Kurilova Rich PLLC is dedicated to preventing these consequences for people in the greater Seattle area, statewide and nationwide. If you have Swiss bank accounts or other overseas accounts that you believe could lead to problems with the IRS, or if you have already been contacted by the IRS, call us toll free at 866-418-3175 for a free initial phone consultation.
More Than Just a Bill for Back Taxes
Swiss bank accounts and other offshore accounts could lead to much more than a bill for unpaid taxes. If the IRS discovers an overseas account and believes that money has been intentionally hidden there, the matter could escalate to the level of criminal charges.
It is important to note that, even if the money was not smuggled into the offshore account tax-free, it is likely that interest accumulated in that account has not been taxed properly. Many of the people subject to IRS actions in these situations are members of the military who had accounts established while stationed overseas and may have forgotten about the accounts entirely. The IRS may not see this as an excuse.
If you are aware of an offshore account that has not been discovered by the IRS, we can work with you to determine your best option for resolving the matter, which may include amending tax returns to include that account. A settlement may be a possibility. If the IRS has discovered the account, we will use our experience to mitigate repercussions.
Other International Tax Issues
We also address tax issues for foreign businesses doing business in the U.S. as well as tax issues for U.S. businesses doing business abroad and foreign tax credits.
Call 866-418-3175 for a Free Initial Phone Consultation
We invite you to contact us today by phone or by e-mail to discuss your case with our experienced international tax problems attorney. Find out how we can help.
