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The IRS' Intent Has Yet To Be Proven

Freeman Tax Law is experienced and here to help you in all your OVDP, FATCA and FBAR troubles.

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The IRS' Intent Has Yet To Be Proven

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  1. IRS’ Intent Has Yet To Be Proven Freeman Tax Law (855)935-5945

  2. IRS Offshore Disclosure Programs The IRS offshore disclosure programs were created to bring those with unpaid taxes from their offshore accounts to rectify their errors. Intentional or not, the offshore voluntary disclosure programs (OVDP) still hit individuals with penalties ranging from 27.5-50%, but they are protected from further audit and criminal liability. The OVDP protects taxpayers from possible criminal charges stemming from tax evasion or concealing tax payment, filing false returns, and failing to file income tax returns. a Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  3. Non-Willful To take advantage of the streamlined procedures you must certify that your conduct was "non-willful." For IRS purposes "non-willful" conduct is conduct that is due to negligence, inadvertence, or mistake or conduct that is the result of a good faith misunderstanding of the requirements of the law. More than stating "I was non-willful," taxpayers must cite specific reasons for failing to report all income and submitting all required information and forms. Married couples must provide individuals reasons and any tax professional consulted in the original filing must also be included. Proving what you didn't know in the past, but now have come to understand is difficult. Now is not the time to omit additional information either. If you are claiming to be non-willful and additional information comes to light blatantly disproving your claim there will be harsh penalties. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  4. The Internal Revenue Manual sets the definition to test “willfulness” in the FBAR context as a determination of whether there was “a voluntary, intentional violation of a known legal duty.” The IRS holds that if you have a foreign account you have a responsibility be informed and read the government tax forms and instructions. If you chose not follow-up or get professional advice, this could be enough to claim you were willfully blind. Suspicious conduct like filing some forms and not others, using another passport, or omitting details from your tax preparer are signs that you were willfully evading your tax obligations. Willfully Blind Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  5. What Is The IRS Intent? How lenient will the IRS be in determining if those that apply to through the streamlined procedures are willful or non-willful as they claim to be? With challenges in proving that taxpayers true non-willful conduct many may be concerned if they have sufficient evidence to convince the IRS of their intent. Many are hoping that the streamlined procedures were designed to simply provide taxpayers that were not quite willful and easier alternative to come into compliance and encourage future compliance. Time will tell, if their motives are to entice taxpayers to step up to the guillotine. One thing is certain, thoroughly discuss your conduct with a trained legal professional before taking part in the Streamlined compliance program. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

  6. Our Locations Atlanta, Georgia Austin, Texas Birmingham, Michigan Boston, Massachusetts Charlotte, North Carolina Chicago, Illinois Cleveland, Ohio Dallas, Texas Denver, Colorado Greenwich, Connecticut Houston, Texas Irvine, California Las Vegas, Nevada Los Angeles, California Miami, Florida New York, New York Palo Alto, California Phoenix, Arizona Pleasanton, California San Antonio, Texas San Diego, California San Francisco, California San Jose, California Short Hills, New Jersey Tampa, Florida Washington DC International Locations: Basel, Switzerland Bern, Switzerland Geneva, Switzerland Zurich, Swizterland Freeman Tax Law  (855) 935-5945 info@freemantaxlaw.comwww.freemantaxlaw.com

  7. Freeman Tax Law About Freeman Tax Law Freeman Tax Law is a boutique tax law firm with national exposure equipped to handle all domestic and international tax law matters. At Freeman Tax Law, the attorneys and professional staff have vast experience with foreign tax compliance, international tax planning, and resolving tax controversies involving offshore banking matters. Freeman Tax Law helps taxpayers and foreign entities become in compliance with laws such as Foreign Account Tax Compliance Act (FATCA) and Offshore Voluntary Disclosure Program (OVDP). In addition to handling complex tax controversies, the Freeman Tax Law team has extensive expertise in assisting clients with wealth management and estate planning. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com

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