FBAR Tax Problems

FBAR tax problems

The IRS is searching for individuals and businesses that have failed to report foreign income. If your FBAR filing is late, contact tax attorney Dale O'Neal right away. He is an experienced tax litigator providing legal support to taxpayers who have neglected to file FBARs for income reported on their tax returns. He provides Offshore Voluntary Disclosure (OVDP) representation and assistance for failure to file:

  • FBAR for foreign accounts and investments
  • FATCA Form 8938 on securities and foreign entities
  • Form 3520 for foreign trusts
  • Form 8865 for foreign partnerships

Who Needs to Report FBAR?

FBAR filings are often required for those who have financial interest or signature authority over foreign financial accounts like bank accounts, trusts, mutual funds and other types of foreign accounts. If any of these accounts exceed $10,000 at any point during the calendar year, you need to file an FBAR, even if you have reported the income on your annual tax return. This applies to U.S. residents, U.S. citizens, entities, corporations, partnerships, LLCs, trusts, and estates. A person holding an account that produces no taxable income can sometimes also be obligated to report it. How can you be sure you’re in compliance with all federal regulations related to FBAR?

FBAR Tax Attorney

If you have questions about the tax responsibilities associated with your foreign accounts or if you are already late in filing this year’s FBARs, contact Dale O'Neal now. He understands the complex FBAR regulations and will fight hard to get tax penalties reduced and settle your tax debt with the IRS.

Get representation for FBAR tax problems. Call tax attorney Dale O'Neal at 817-877-5995 now or request a consultation online to get started today.