Greenwich, Connecticut
500 West Putnam Avenue, Suite 400
Greenwich, Connecticut 06830
Phone: 203-642-0353
Toll-Free: 866-236-4TAX
Email: info@freemantaxlaw.com
International Banking Lawyer with Locations Nationwide
Representing Individuals and Corporations Throughout Connecticut with International Tax Concerns
Over the past decade offshore banking secrecy laws have significantly changed regarding U.S. individuals disclosure of their offshore accounts. In the past U.S. citizens and residents with foreign bank accounts were able to rely on bank secrecy laws to avoid providing account information to the IRS. The IRS has recently acquired additional powers to request the disclosure of international bank accounts of U.S. citizens. In 2009, Switzerland-based UBS AG was forced to reveal data on thousands of accounts held by U.S. citizens and residents. The IRS has issued John Doe Summonses to banks in India to have them release bank account information regarding both U.S. citizens and residents with accounts at these institutions.
U.S. citizens are taxed on their worldwide income. If you have offshore financial accounts and want to protect yourself from possible penalties and prosecution, please contact the Law Offices of Jeffrey S. Freeman now.
International Tax Matters
Not all tax lawyers are prepared to advise you on knowledgeable on international tax matters to help protect your financial future and prevent potential criminal charges. Offshore banking and FBAR attorney Jeffrey S. Freeman began his career with a leading international tax firm. Since then he has handled complex international tax matters on behalf of a diverse clientele. Our firm is comprised of attorneys with the knowledge and commitment required to help you handle your tax challenges, come into compliance, and plan for your future.
Legally, anyone with interest in one or more foreign accounts, including brokerage accounts and mutual funds, with a value exceeding $10,000, must file a Report of Foreign Bank and Financial Accounts (FBAR). There are severe IRS penalties for failing to disclose such accounts. The IRS has re-enacted its "voluntary disclosure program", also known as the Offshore Voluntary Disclosure Initiative (OVDI), to allow those with offshore accounts to avoid criminal prosecution and disclose these accounts with significantly reduced penalties. The OVDI program will only exist until August 31st, 2011, so it is crucial that you act now to take advantage of this program. For assistance with offshore accounts and international tax matters, contact our offices now.
Focused on IRS Negotiations and Effective Protection of Your Interests
Mr. Freeman and our versatile, accomplished tax law team will investigate and assess your circumstances thoroughly and look to take action targeting:
- Proper, compliant filings of required Report of Foreign Bank and Financial Accounts (FBAR) documents
- Pursuit of any available strategies for resolving your tax debt
- Limitation or removal of extremely harsh penalties
- Negotiating assertively to have your tax case handled as a civil matter, rather than a criminal investigation for offenses such as tax fraud or tax evasion
IRS Compliance with Offshore Accounts
Our law firm is able to counsel clients throughout the United States with foreign financial interests. Our creative approach has been integral in helping our clients to return to compliance with the federal reporting requirements for offshore bank accounts, while at the same time avoiding criminal prosecution and minimizing their penalties. Situations such as:
- Tax audits or other investigations that expose offshore income not reported on tax returns
- Discoveries of one or more offshore accounts that were held but not disclosed by a family members who have now passed away
- Accounts maintained by people living and working abroad who are or later became U.S. citizens OR accounts maintained by U.S. citizens under the mistaken assumption that these accounts could serve as a legal tax avoidance measure
Our law firm maintains an office in Greenwich and serves clients throughout Connecticut, in places such as Westport, Stamford, Wilton, New Canaan, Darien, Weston, Riverside and Fairfield County. If you have an offshore bank account and believe the IRS will take action against you, contact us now.
