Schedule Case Assessment
(215) 854-6310
Experienced · Local · Affordable
When U.S. taxpayers own or have interest in foreign assets overseas, it can raise reporting and tax consequences they don’t expect. FBARs and foreign asset reporting requirements can leave taxpayers worrying about what other legal obligations they…
Read More
Since the IRS announced that the OVDP is ending on March 13, 2018, you may be wondering what you can do to limit your exposure to audits or tax penalties for unreported financial assets overseas. Here are some options to consider with your tax attorn…
Read More
Over the last decade, thousands of U.S. taxpayers have taken advantage of the offshore voluntary disclosure program (OVDP) to correct reporting errors connected to foreign financial accounts. They have voluntarily reported their accounts to the IRS t…
Read More
President Donald Trump made tax reform a part of his campaign. He promised to simplify the U.S. tax code and reduce tax burdens, particularly on corporations and small businesses. On December 22, 2017, after months of intense debate in Congress, Trum…
Read More
When taxpayers discover errors in their tax returns, or they learn they were supposed to file FBAR reports, the problem they uncover can sometimes span years. The larger these foreign financial accounts are, the quicker the unpaid taxes, penalties, a…
Read More
Many foreign nationals do not realize the reporting and tax requirements imposed on them by the IRS. While it has been said ignorance of the law is no excuse, intentional tax avoidance can result in far more severe penalties, including prison and mil…
Read More
The IRS has begun to hint that the end of the Offshore Voluntary Disclosure Program (OVDP) is coming. Those hints became clearer at a recent panel discussion in Florida. Find out why the OVDP is on the way out, and what options taxpayers may have goi…
Read More
Virtual currencies like Bitcoin have been on the rise in recent years. 2017 saw the cryptocurrency market soar to $650 billion, with some investments more than doubling in value within the year. The skyrocketing value of these assets have caught the…
Read More
Many American taxpayers and business owners use accountants or CPAs to prepare their taxes. Their involvement in the tax process may be as little as signing the return and cutting a check, without ever really considering their accountant’s advi…
Read More
For many taxpayers, the failure to file reports of foreign financial accounts happens by accident, or at least inadvertently. Even many penalties issued for willful violations are the result of a taxpayer’s negligence rather than any complex ta…
Read More
© 2018 Joseph R. Viola
View Our Disclaimer | Privacy Policy
Law Firm Website Design by The Modern Firm
