Foreign Account Compliance – OVDP – Streamlined Disclosure

Taxpayers with foreign income, assets and/or accounts have additional reporting requirements. IRS has severe civil and criminal penalties for taxpayers that violate these requirements. Such taxpayers can achieve compliance and minimize penalties by participating in the appropriate IRS disclosure program. LOAK Tax assists such taxpayers with compliance and disclosure procedures, including:

  • Compliance Assessment
  • Foreign Income and Account Review
  • Advising Client on Potential Penalties and Available Disclosure Programs
  • Preparing and Filing U.S. Tax Returns or Amending Tax Returns
  • Preparing and Filing FBARs
  • Representing Taxpayer in Appropriate Disclosure Program