FATCA filing requirements are a recurring challenge. Even with the best of intentions, you could find yourself in a dispute with the IRS or another revenue agency that carries serious consequences.
Get the help you need by working with the skilled attorneys at Frost Law, led by Glen Frost (Esq., CPA, CFP®, and LLM in taxation). His team of attorneys has helped clients from around the world resolve their FATCA tax reporting issues.
Call 410-497-5947 or fill out our brief form for a free, confidential consultation.
During your free consultation, we’ll examine:
- Your FATCA filing requirements
- If you have FATCA exemptions
- Ways to fulfill FATCA tax reporting
- Whether you have FATCA withholding
What Are Your FATCA Obligations?
FATCA provides for unprecedented IRS scrutiny of compliance with foreign-account requirements that can easily cause problems for unsuspecting taxpayers.
FATCA added new obligations for U.S. taxpayers holding offshore accounts to report those holdings to the IRS through intergovernmental agreements (IGAs) with more than 100 countries.
So, if you’re uncertain about how the disclosure requirements apply, we can help you identify your options and make a decision on the best course of action going forward.
FATCA Exemption Guidelines
FATCA typically requires U.S. taxpayers who meet the FATCA threshold (at least $50,000) to report information on their assets on form 8938.
What is FATCA Withholding?
As the world of FATCA withholdings breaks down into two major categories, foreign financial institutions (FFIs) and non-financial foreign entities (NFFEs), there is a set of hard and fast rules that are applicable to these groupings – although, in the case of an individual business, it is always best to consult with trusted attorneys to ensure correct filing.
Different types of NFFEs and FFIs have varied obligations with respect to the FATCA withholding tax so it’s important to contact an attorney for accurate guidance.
Get Clear Next Steps for FATCA Issues
Protect your investments and gain clarity into the disclosure requirements that are causing you undue frustration by letting the team of dual-licensed tax attorneys and CPAs at Frost Law help you today.
Frost Law can help you with common international tax problems such as:
- Filing requirements
- Penalties and violations
- Reporting thresholds
- Voluntary disclosures
- Investigations and other international tax issues
No matter how the dispute arose with the IRS or another agency, what’s important now is to assert your interests and find a solution that makes sense for your situation. Let us help.
Protect Yourself and Your Foreign Assets
Complete the form or call 410-497-5947 today to arrange a confidential, no-cost consultation with experienced, dual-licensed tax lawyers and CPAs.
Frost Law serves clients across the country and around the world.