Filing taxes is complicated. Even former Treasury Secretary Tim Geithner had trouble submitting his taxes correctly. So for your average tax paying citizen, the challenge to correctly submit your taxes is… well hard. And this annual task becomes harder when you have multiple bank accounts as well as accounts that are overseas. If you’re a taxpayer in danger of being penalized for non-disclosure of overseas accounts, the IRS offers a Voluntary Disclosure Program to help you set the record straight.
How the IRS Voluntary Disclosure Program Can Help You
Do you have any undisclosed foreign accounts or do you have a source of income overseas that you didn’t indicate on your US tax return? You could face serious legal and financial penalties, but by voluntarily reporting non-compliance you can avoid large fines and jail time.
The IRS has the US Offshore Voluntary Disclosure Program (OVDP) for individuals or businesses that have failed to report a source of foreign income or the existence of a foreign bank account. By participating in this program, you may be able to receive lighter financial penalties and avoid jail time for non-disclosure.
Where to Start
US International Tax Advisors has been helping taxpayers come back into compliance and set their tax records straight for years. If you need assistance with IRS Voluntary Disclosure in Tysons, VA or the surrounding area, our team can help. Our experienced professionals have already helped hundreds of individuals just like you successfully resolve various tax concerns through the IRS disclosure program.
To help you with your IRS voluntary disclosure, we will assist in investigating, documenting and filing the necessary forms and reports, as well as providing you with the representation needed during the entire process with the IRS.
Our clients have included individual taxpayers and businesses across Maryland, Virginia, DC and the rest of the country. We can assist you in resolving any tax concerns you may be facing, including seeking IRS tax amnesty in Annapolis, MD and the Metro DC area.
Come back into compliance by joining the IRS voluntary disclosure program. Contact US International Tax Advisors today for a free private consultation and more information on how to start the process.