FBAR & FACTA
Report of Foreign Bank and Financial Accounts - FBAR
Are you a U.S. citizen or resident with foreign financial accounts? If so, you may be required to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Financial Crimes Enforcement Network (FinCEN) to disclose the value of your foreign assets. At THEVOZ & Partners, we understand the complex rules and regulations surrounding FBAR reporting. As a result, we can provide various services to help you comply with the requirements and avoid potential penalties.
Foreign Account Tax Compliance Act - FATCA
The Foreign Account Tax Compliance Act (FATCA) is a federal effort to curb tax evasion by U.S. persons holding accounts and other financial assets overseas. Under FACTA, foreign financial institutions are required to provide certain information about U.S. taxpayers' financial accounts to the Internal Revenue Service (IRS). FACTA also requires certain U.S. taxpayers who meet the reporting criteria to report their assets on Form 8938. If you fail to complete the Form 8938 filing requirement, you may be subject to a $10,000.00 penalty. Lastly, it is worth noting that Form 8938 does not relieve filers from their FBAR filing obligations.
Our team of experienced attorneys can advise you on whether or not you need to file an FBAR and what information you need to report. We can also help you understand any exemptions or exceptions that may apply to your situation.
If you need to file an FBAR, we can help you prepare Form 114 and file it with FinCEN. We will ensure that all necessary information is included and that the report is filed accurately and on time.
If you are being audited by the IRS or FinCEN for FBAR compliance issues, our attorneys can help you defend against the audit and represent you during the process. In addition, we will work to protect your best interests and mitigate any potential penalties.
If you have failed to file an FBAR or filed an inaccurate FBAR, we can help you make a voluntary disclosure to the IRS to minimize the risk of penalties or criminal prosecution. We will guide you through the process and help you navigate potential consequences.
In addition to our FBAR services, we can advise on international tax planning to prevent or minimize FBAR and other tax-related issues related to your foreign assets. We can help you structure your investments and support them tax-efficiently while ensuring compliance with all relevant regulations.
Our attorneys can help you and your organization understand the scope and implications of FATCA and design a system that ensures compliance with all the relevant regulations and reporting requirements.
Our law firm can assess your financial institution's FATCA compliance procedures and provide recommendations for improvement.
Our law firm can assist your financial institution navigates the complex FATCA registration and reporting process, ensuring that all necessary forms are completed accurately and filed on time.
Our law firm can offer training and education to your financial institution and your employees to ensure they understand their obligations under FATCA and how to comply with them.
In case of any disputes or issues related to FATCA compliance, our law firm can assist you in resolving them.
THEVOZ & Partners specializes in tax law
This area of law is particularly complex and requires a high level of training. For this reason, our attorneys train continuously and hold a great amount of experience in the field of tax law. THEVOZ & Partners is a tax law firm with offices in Austin and Lausanne specializing in the provision of tax and legal services to individuals and companies in the United States and Europe.
We help clients navigate a litany of domestic and international tax issues ranging from compliance to planning and even litigation. We understand that each client has unique needs and goals, and we pride ourselves on taking a personalized approach to tailor our services to meet those needs.
THEVOZ & Partners is an international law firm committed to providing our clients with tailored and competent services.
THEVOZ & Partners is a highly respected boutique law firm with locations in the United States and Switzerland. Our attorneys have a wealth of experience in various legal fields, with a focus on tax, corporate and commercial law. We are here to help you navigate any legal issues, whether you are a business owner seeking advice or an individual needing representation. Our team is dedicated to providing personalized, attentive service to all our clients. Trust us to be by your side as you navigate the legal landscape.