Having foreign bank accounts, income, assets, or investments means you are under the microscope of the IRS, and you definitely do not want to step out of line. The IRS has a program in place to identify and tag any taxpayers who do have offshore accounts to ensure they remain in compliance with all tax laws and regulations. Any misstep and you may find yourself in some serious trouble with lasting consequences.
If you do have any foreign accounts, it is imperative that you hire an experienced tax professional to assist you when it comes to your taxes. Attempting to take care of reporting your overseas accounts on your own is risky.
Leading Tax Group is here to help you with FBAR or OVDP representation in San Diego and we can walk you through the process of properly claiming all of your foreign accounts. Our team can also assist with penalty removal, compliance advice, and audit representation. Call us today to discuss your situation with one of our tax professionals.