U.S. taxpayers with foreign accounts are required to comply with a 2010 law, the Foreign Account Tax Compliance Act (FATCA). FATCA governs reporting requirements for U.S. taxpayers with non-U.S. financial accounts. It is a big issue for many qualifying taxpayers for two reasons: (1) the reporting requirements are complex, and (2) it imposes steep penalties for compliance failures.

At Abeles and Hoffman, P.C., our professionals have extensive experiencing helping clients navigate the requirements of FATCA compliance. We will work with you to evaluate your situation, resolve any tax issues that arise, and get you IRS compliant.

Our core foreign account tax compliance services include:

  • Offshore Voluntary Disclosure Program (OVDP)
  • Streamlined Domestic Offshore Procedures (SDOP)
  • Delinquent FBAR submission procedures
  • Delinquent international information return submission procedures