FBAR Lawyer & International Tax Attorney
If you haven’t reported foreign assets in the past, we’re here for you. Our experienced FBAR lawyers will help you make sense of your options, guide you safely through the disclosure process, and give you back your peace of mind.
FBAR COMPLIANCE SERVICES IN CHICAGO, IL | GORDON LAW
Resolve FBAR problems in 3 easy steps
Several amnesty programs exist for those who are delinquent in filing the FBAR, FATCA, and other offshore disclosure forms. Our experienced FBAR lawyers have submitted more than 100 streamlined disclosure applications with a 100% success rate. We’ll make the process simple and stress-free from start to finish!
- See if you qualify for any FBAR amnesty programs
- Gather the required paperwork, including statements from your offshore accounts, and get ready to file
- We’ll submit your application for FBAR amnesty and provide clear guidance until the process is complete!
Stop living in fear of the IRS. We’re here to help!
FBAR and Offshore Disclosure Services
What can an FBAR lawyer do for you?
Our skilled FBAR attorneys are here to help with all forms of foreign asset disclosures, whether you’re filing for this year or correcting past years. International tax law can be confusing, to say the least, but we make compliance simple and stress-free!
Need help filing the FBAR this year? With more than 10 years of experience, Gordon Law makes your international tax reporting a breeze! We can also prepare your full tax return if needed.
Offshore tax forms may be required for:
- U.S. citizens or green card holders living abroad
- Dual citizens
- International investors
- U.S. taxpayers with foreign accounts totaling $10,000 or more
- U.S. taxpayers with international business interests
- Foreign companies engaging in U.S. trade or business
The FBAR isn’t the only offshore tax form you need to be aware of. In addition to the FBAR, we can assist with foreign filings like:
- Form 8938 (FATCA) – Used to report offshore financial assets (similar to the FBAR; often, both forms are required)
- Form 3520 – Related to transactions with foreign trusts and certain foreign gifts
- Form 2555 – Used to calculate the Foreign Earned Income Exclusion
- Form 8833 – Used to claim international tax treaty benefits and avoid double taxation
- Form 8261 – Related to investment in passive foreign investment companies (PFICs), which can include mutual funds, ETFs, and other common types of accounts
- Form 8865 – Related to foreign partnerships
- Form 5471 and Form 5472 – Related to foreign corporations
- Forms 8804 and 8805 – Related to foreign partnerships and Section 1446 withholding
- Form 8854 – Used for expatriation (giving up U.S. citizenship) and calculating the exit tax
Each form has distinct requirements and significant penalties for noncompliance. Remember, not all tax professionals understand international tax law or have experience filing these niche forms.
It can be quite difficult to ensure you don’t miss any required filings, unless you work with an experienced international tax attorney like the team at Gordon Law.
We take care of all the details so you don’t have to worry about a thing—just sit back while we minimize your international taxes and help you avoid IRS penalties!
Looking for FBAR amnesty programs? It’s important to choose the right solution so you can save time and avoid further problems with the IRS.
The options to resolve noncompliance include:
- Penalty abatement: If you believe the IRS assessed a penalty incorrectly, speak with our experienced FBAR lawyers. We’ve helped taxpayers reduce penalties by millions of dollars!
- Delinquent FBAR Submission Procedures: This option allows you to file the FBAR late with no penalties. To qualify, all your income from foreign accounts must have been previously reported on your tax returns, and all federal tax must be paid on it. You also must be non-willful.
- The Delinquent International Information Return Submission Procedures are a similar program used for other international tax forms.
- IRS streamlined filing: The Streamlined Domestic Offshore Procedures (SDOP) and Streamlined Foreign Offshore Procedures (SFOP) allow you to submit past-due FBARs, amended tax returns, and other delinquent international forms. These FBAR amnesty programs offer reduced penalties (SDOP) or no penalties at all (SFOP). You must be non-willful in order to qualify.
- IRS Voluntary Disclosure Program: This program, formerly known as OVDP, is the only FBAR amnesty program available in cases of willful noncompliance. If you’re worried about a criminal tax investigation, consider this option.
- Quiet disclosure: Quiet disclosure means that you do not attempt to resolve past mistakes, but simply file your international tax forms correctly moving forward. Tread carefully with this option—you could risk being deemed “willful” and facing criminal tax implications. For that reason, most international tax lawyers don’t recommend this option.
Did you recently learn of your FBAR filing requirement? Don’t worry—you’re not alone!
- First, we’ll help you choose your course of action: Streamlined procedures, the Voluntary Disclosure Program (OVDP), or other avenues. Choosing the right path can save you thousands in IRS penalties!
- We’ll complete all the paperwork for you and speak to the IRS on your behalf. We can even help you track down bank statements from foreign countries.
- We make the process easy and stress-free so you can go back to living your life. So far, we’ve completed more than 100 streamlined disclosures with no errors or rejections!
An FBAR audit is any type of tax audit that involves foreign accounts and offshore tax forms. These audits are complex, with a high risk of financial penalties or even criminal tax concerns. In such cases, working with an experienced FBAR lawyer can help protect your rights and minimize your tax and penalties.
The reason for the audit could be related to your international accounts (if the IRS has a reason to suspect you haven’t complied with international tax laws), or it could be caused by something completely different. Either way, an FBAR audit is risky.
How Gordon Law can help with an FBAR audit:
- Carefully review your situation, identify potential problems, and create an action plan to help make the audit as smooth and stress-free as possible.
- Serve as a buffer between you and the IRS, ensuring you don’t accidentally say something that could escalate the situation.
- Limit what the IRS examines during your audit.
- Negotiate with the IRS and prevent penalties—this can reduce the resulting tax bill by thousands of dollars!
Did the IRS assess an international tax penalty that you shouldn’t have to pay? Were you double taxed on income that should have been excluded under a tax treaty? Gordon Law can help. We’ve eliminated millions of dollars in penalties related to offshore tax forms.
In addition to filing offshore tax forms, our skilled international tax attorneys can help with:
- International tax planning, including structuring your business ventures and investments
- International mergers, acquisitions, divestitures, and stock transfers
- Expatriation for tax purposes
- Taking advantage of Act 60 tax incentives in Puerto Rico
Our team has focused on international tax law since 2012, helping hundreds of taxpayers minimize their taxes and avoid penalties. Give us a call at (847) 580-1279 to discuss your situation with an attorney.
Meet your FBAR lawyers.
Highly experienced FBAR attorneys dedicated to your peace of mind.
Need an international tax attorney to negotiate with the IRS?
If you don't know if you need to file, or what you need to disclose, our tax team is here to help. If you're being audited or the IRS has already targeted you for not filing an FBAR, we can take the reins, handle the negotiations, and guide you safely to the other side of your tax dilemma.
Our attorneys have a great deal of tax litigation and criminal tax law experience. We can advise you on everything associated with making a voluntary disclosure and filing an FBAR.
If an IRS auditor contacts you, having attorneys with extensive experience on your side is invaluable. We can work with IRS investigators, and our tax law knowledge can shift the odds in your favor.
We know exactly what you should say in response to an IRS investigator's questions, so get in touch today to begin the conversation. A confidential consultation with our experienced FBAR lawyers could ultimately save you money, time, and considerable hassles.
Ask an FBAR lawyer
Anybody with $10,000 or more in foreign holdings—bank accounts, business transactions, investment dividends, etc.—must file an annual FBAR form along with their tax return. Learn more about FBAR filing requirements here.
Yes. The United States government taxes all citizens on all earnings, even if it comes from other parts of the world—whether from foreign properties, online business income, or an international asset, you must report it to the IRS.
This depends on several factors. Contact an FBAR lawyer who can guide you through the process and determine a solution for your situation.
Failing to file FBAR can result in fines up to $250,000, 5 years in federal prison, or both. If you deliberately fail to comply, you’re also subject to a $100,000 fine or 50% of the account balance. In some instances, failing to file can also result in deportation.
In some instances, yes, the IRS is willing to negotiate settlements. It’s recommended to work with an FBAR lawyer to improve your chances of securing amnesty agreements.
There are two different types of disclosure methods: “noisy” and “quiet.” “Noisy” voluntary disclosure means using one of the IRS’s dedicated programs to correct your taxes: either streamlined disclosures or the Voluntary Disclosure Procedure. Many FBAR cases are eligible for streamlined disclosures, which offer minimal penalties. Submitting a noisy voluntary disclosure can protect you from criminal prosecution.
For various reasons, some people opt for the “quiet voluntary disclosure” route: amending old tax returns without using an official IRS program. Though it may appear your best choice at first glance, quiet disclosure isn’t the wisest option in many cases. Officials tend to treat these types of respondents more harshly should issues arise.
Every citizen can file their taxes and FBAR disclosures without help, but consider: Would an experienced attorney, who knows all the minutiae of how the process works, serve your interests better and possibly save you money in the long run? And remember, failing to file—or even filing erroneously—can land you in criminal trouble.
Yes, it can. Banks in many countries will ask point-blank if you’re a US citizen, and if you say yes, they will report your information to the IRS. The agency can also track you down nearly anywhere in the world by using John Doe subpoenas and strategic resources.
The consequences of not filing an annual FBAR disclosure can be seismic and costly. Learn more about FBAR penalties here. Consider working with an experienced FBAR lawyer to increase your chances of a favorable outcome.
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