Undisclosed Offshore Assets

Undisclosed offshore assets

Federal law requires that, every year, citizens and resident aliens of the United States disclose certain assets held outside of the United States to the federal government. This may include bank accounts, real property, ownership in foreign entities and more. If you are required to, but do not, meet this filing requirement, you may be subject to both criminal prosecution and substantial penalties.

The IRS has set up procedures and programs to allow citizens and resident aliens to disclose foreign assets and attempt to avoid criminal prosecution and reduce the associated penalties. However, these procedures and programs are subject to change at any time. This tax problem should be discussed with an experienced tax professional.

If you have not disclosed all of your offshore assets to the federal government, contact GMD Tax Law today! Call us at 617.237.6347 or email Attorney Greg Dzialo today at gdzialo@gmdtaxlaw.com.

Contact GMD Tax Law of Massachusetts for a FREE Consultation Today!

If you have tax questions related to audits and proposed taxes, then contact GMD Tax Law of Massachusetts for a FREE consultation! Call us at 617.237.6347 or email Attorney Gregory Dzialo today at gdzialo@gmdtaxlaw.com.

General Services

Offers In Compromise
Penalty Abatements
Releases, Discharges and Subordinations of Liens
Payment Plans
Audit Defense
Disclosure of Offshore Assets
Removal of Bank Levies
Removal of Wage Garnishments
Innocent Spouse Defense
Trust Fund Recovery
Penalty Defense