Individuals and businesses often take advantage of the benefits offshore banking provides. You may have opened an account to ensure that you get to keep more of your hard-earned money with a favorable tax rate. You may have used a trust or foundation to protect your assets.
Under federal tax laws, you are required to report certain accounts to the IRS. Whether you misunderstood the reporting requirements or chose to ignore them, the IRS will find out about your offshore account.
Offshore voluntary disclosure programs can help you protect against severe civil and criminal penalties, but you need the assistance of an experienced tax attorney.
Why should you choose the Law Office of Williams & Associates, P.C.?
