New York City, New York
245 Park Avenue
24th and 39th Floors
New York City, New York 10167
Phone: 646-289-5894
Toll-Free: 866-236-4TAX
Email: info@freemantaxlaw.com
International Tax and FBAR Lawyer with Locations Throughout the United States
Representing New Yorkers with International Tax and Offshore Bank Account Compliance Concerns
Over the past decade, offshore banking secrecy laws regarding individuals' disclosure of their offshore accounts have changed significantly. In the past U.S. citizens and residents with foreign bank accounts could rely on bank secrecy laws to avoid providing account information to the IRS. Recently, the IRS has 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. Recently, the IRS has issued summonses to banks in India to go after bank accounts held by U.S. citizens and residents.
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
In order to protect your finances and prevent future criminal accusations, it is imperative that you enlist a tax attorney who is experienced and knowledgeable on international tax matters. Offshore banking and FBAR attorney Jeffrey S. Freeman started his legal career with a leading international tax firm. Today, he regularly handles complex international tax matters on behalf of taxpayers across the United States. Our firm is comprised of attorneys with the knowledge and commitment to help you handle your tax challenges and plan for your future.
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 harsh IRS penalties for not disclosing such accounts. The IRS has a "voluntary disclosure program", also known as the Offshore Voluntary Disclosure Initiative (OVDI), which allows U.S. citizens and residents to come forward with disclosing their offshore accounts and avoid criminal prosecution and receive significantly reduced penalties. The program lasts until August 31, 2011. Therefore, if you have an offshore account that has not been disclosed to the U.S. government, please contact us 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
- Assertive negotiation 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 counsels clients throughout the United States with foreign financial interests. We have developed an innovative approach that has been integral in allowing our clients to return to compliance with the federal reporting requirements for offshore bank accounts, while avoiding criminal prosecution and minimizing penalties. We routinely counsel clients in situations such as:
- Tax audits or other investigations that reveal offshore income that has not been reported on tax returns
- Discoveries of one or more offshore accounts that were held but not disclosed by family members who have now passed away
- Accounts maintained by people living and working abroad who are or later became U.S. citizens
- Accounts maintained by U.S. citizens under the mistaken assumption that offshore accounts could serve as a legal tax avoidance measure
We maintain meeting locations for clients in Los Angeles, New York, Miami, Chicago, Cleveland and Greenwich as well as our home office in southeast Michigan. If you have an offshore bank account and are at risk of IRS action, contact us now. From our office in Manhattan, our law firm represents individuals across New York's five boroughs and in places such as Nassau County, Suffolk County, Westchester County, Rye and Chappaqua.
