Dropdown button for navigation mobile view

Options Available For U.S. Taxpayers with Undisclosed Foreign Financial Assets

Posted by: Zaher Fallahi
Posted On: Aug 23, 2014

The implementation of FATCA and the ongoing efforts of the IRS and the Department of Justice to ensure compliance by those with U.S. tax obligations have raised awareness of U.S. tax and information reporting obligations with respect to non-U.S. investments.

Because the circumstances of taxpayers with non-U.S. investments vary widely, the IRS offers the following options for addressing previous failures to comply with U.S. tax and information return obligations with respect to those investments:

For assistance with disclosing undeclared foreign bank accounts (offshore voluntary disclosure program, OVDP), report of foreign bank & financial accounts (FBAR), foreign account tax compliance act (FATCA), tax audit IRS representation, and office of foreign assets control (OFAC),  contact Zaher Fallahi, Los Angeles & Orange County Tax Attorney at (310) 719-1040 (Los Angeles), (714) 546-4272 (Orange County) or e-mail: taxattorney@zfcpa.com