Services

Voluntary Tax Disclosures

Navigating the landscape of voluntary tax disclosures and amnesties can be complex, especially with the increasing global emphasis on transparency in financial and tax matters. At our firm, we specialize in assisting individuals and entities with voluntary tax disclosure programs and initiatives.

Services in this matter include the following:

  • Voluntary Disclosure Assessments: We conduct comprehensive assessments of our client’s tax situation to determine the extent of potential non-compliance. We review client’s financial records, income sources, and foreign asset holdings to identify any unreported income or undisclosed foreign accounts.
  • Streamlined Filing Compliance Procedures: For eligible taxpayers, we assist in navigating the Streamlined Filing Compliance Procedures offered by the Internal Revenue Service (IRS). We help clients prepare and file delinquent tax returns, FBARs (Report of Foreign Bank and Financial Accounts), and other required disclosures to come into compliance with U.S. tax laws.
  • Delinquent International Information Return Submission Procedures (DIIRSP): If you have failed to file required international information returns such as Form 5471 (Foreign Corporation Reporting), Form 3520 (Foreign Trust Reporting), or Form 8938 (Statement of Specified Foreign Financial Assets), we guide you through the DIIRSP to rectify past non-compliance.
  • Qualified Amended Returns: In cases where previously filed tax returns contain errors or omissions, we assist in preparing and filing qualified amended returns to correct inaccuracies and disclose previously unreported income or assets.
  • Negotiation and Representation: We represent our clients in communications with the IRS, negotiating on your behalf to achieve favorable resolution outcomes. Whether it involves mitigating penalties, negotiating installment agreements, or resolving audit issues, we advocate for your best interests throughout the voluntary disclosure process.
  • Tax Planning and Compliance Strategies: Beyond voluntary disclosure, we provide proactive tax planning and compliance strategies to help our clients maintain ongoing compliance with U.S. tax laws. Our goal is to minimize your tax liabilities while ensuring adherence to regulatory requirements.