Offshore Tax Compliance

The U.S. reporting requirements imposed on U.S. taxpayers with offshore assets or interests in non-U.S. trusts or entities is a subject with which few tax professionals are familiar. This area is also becoming even more complex as Congress continues to add burdensome reporting requirements in the name of ending offshore tax evasion. We possess a significant depth of knowledge in identifying the foreign tax- and information-reporting rules that apply to a client’s situation, and we have the expertise and resources available to prepare the necessary returns, or to educate the client’s tax preparer on how to do so.

In addition, Travis Bagwell has developed a niche practice in assisting clients with bringing previously unreported foreign structures into full compliance, and he has had great success in negotiating waivers of applicable penalties for such clients and submitting returns under the Streamlined Filing Procedures developed by the IRS.  In this practice, Mr. Bagwell works closely with Ben Ross of Ross Tax Advisors to prepare and file remedial tax and information returns in an efficient and affordable manner – this alliance provides clients with legal and accounting expertise under one roof.

Related Resources

• Foreign Reporting: Get it Right, by Carolyn Beckett, Amy Jetel, and Elizabeth Morgan
• Federal Attempts to Close Offshore Tax “Loopholes” – Necessity or Nuisance? by Amy Jetel, Elizabeth Morgan, and Michelle Rosenblatt