Foreign Bank Account Reporting Compliance
If you or your business has assets worth more than $10,000 in foreign bank accounts, you are required to file a Report of Foreign Bank and Financial Accounts, also known as FBAR. Whether you have failed to complete this filing or whether you have questions about your obligations, you need attorneys who are experienced in this unique regulation.
FBAR compliance requires complete understanding of rights and responsibilities. An unwarranted or mishandled disclosure can have devastating consequences and at Shah & Associates, we help clients who must comply with FBAR understand their obligations and options as soon as possible. The IRS can be aggressive in pursuing complex cases of FBAR compliance and we provide services to assist clients with FBAR compliance early on and in the midst of IRS audits.
Our team’s experience makes us uniquely qualified to manage many intricate and complicated tax issues related to FBAR compliance. The IRS and the Department of Justice take FBAR related issues very seriously and may even pursue civil as well as criminal charges. The IRS has only enhanced their enforcement and criminal prosecution efforts in recent years, highlighting the importance of hiring qualified and talented FBAR compliance attorneys like the professionals at Shah & Associates.