Offshore Account, Taxes Attorney in Fort Worth, TX

Offshore Account, Taxes Overview

Disclosure of Internationally Held Assets

The federal government has made it a priority to recoup revenue it has lost through the use and non-reporting of assets and bank accounts offshore. It is completely legal for people to have such assets and accounts, but their existence must be reported and the proper taxes paid. As of January 9, 2012, the government has renewed a program whereby people can voluntarily disclose their previously unreported offshore accounts and avoid criminal penalties.

The program is called the Offshore Voluntary Disclosure Initiative (OVDI), and the Dallas-Fort Worth law firm of Brown, PC, routinely helps clients comply with its requirements. We are leaders in the field of tax law, a position we have earned because of the experience and skill sets of our attorneys and staff. Founding attorney Lawrence Brown is a former trial lawyer with the Tax Division of the Department of Justice, and the firm's associates have extensive tax, legal and accounting backgrounds. Our firm is also home to four IRS Enrolled Agents, who bring inside knowledge to matters of international taxation.

Understanding the OVDI Program

In 2009 and again in 2011, the government allowed taxpayers to voluntarily disclose the existence of their offshore holdings while avoiding criminal tax prosecutions. Rather than facing prosecution, taxpayers were fined and had to pay back taxes at a rate of 20 percent in 2009 and 25 percent in 2011. The rate for the 2012 program is 27.5 percent of the most valuable offshore asset or largest overseas bank account.

At Brown, PC, we advise and represent high net worth individuals in Texas and throughout the United States on matters related to offshore account taxation and enforcement. One of our strengths is our commitment to staying current on the developments in this rapidly changing area of the IRS. The goal of our nationwide offshore tax practice is to help clients comply with new federal regulations while minimizing any negative consequences.

Protect Yourself From Severe Penalties

The IRS is willing to work with taxpayers who voluntarily disclose offshore assets. However, if the IRS finds out about these assets through its own investigations, it will not hesitate to prosecute criminally or impose civil monetary penalties greater than account values. By hiring the experienced and talented tax lawyers of Brown, PC, you will be protecting yourself to the greatest extent possible.

Call 817-870-0025 or toll free 888-870-0025 for a confidential consultation to discuss your offshore accounts, the OVDI program and what our Texas-based firm can do to help you comply with the law.

Other Frequent Case Types

• Amnesty Program in Fort Worth, TX
• Criminal Tax in Fort Worth, TX
• Criminal Tax in Fort Worth, TX
• Criminal Tax in Fort Worth, TX
• IRS Collections in Fort Worth, TX
• IRS Collections in Fort Worth, TX
• State Tax, Local Tax in Fort Worth, TX
• Tax Controversy and Tax Litigation in Fort Worth, TX
• Tax Controversy and Tax Litigation in Fort Worth, TX
• Tax Controversy, Tax Litigation in Fort Worth, TX
• Tax Relief in Fort Worth, TX

Areas of Practice

• Offshore Account, Taxes
• Taxation Law