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FATCA
IRS Form 14654 is used when submitting documents for the Streamlined Offshore Voluntary Disclosure Program.  The video below has been prepared by a tax attorney at The McGuire Law Firm to provide additional information regarding the Form.  You can contact The McGuire Law Firm to speak with a tax attorney regarding your tax matters, including...
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For many individuals, the Streamlined Offshore Voluntary Disclosure Program provided welcome relief in comparison to the “initial” Offshore Voluntary Disclosure Program. ¬†Many taxpayers with foreign accounts and assets contact wonder what forms and documents must be filed to apply for the Streamlined Offshore Voluntary Disclosure Program. ¬†In general, taxpayer’s must file the necessary FBARs, amend...
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Non-willful conduct is required under the Streamlined Offshore Voluntary Disclosure Program (Streamlined OVDP).  If the failure to report foreign bank accounts and/or foreign financial assets was non-willful, you may be subject to a lower penalty base.  The key question is, what constitutes non-willful actions by a taxpayer?  Generally, the IRS would consider non-willful to mean...
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FATCA Application to U.S. and Foreign Financial Institutions  A Denver tax attorney at The McGuire Law Firm can assist you regarding the FATCA provisions and application of these provisions.  Below is information related to U.S. and foreign financial institutions. U.S. Financial Institutions United States financial institutions (USFIs) in addition to other United States withholding agents...
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Foreign Account Tax Compliance Act (FATCA)  As a Denver tax attorney, John McGuire works with clients to ensure their compliance with the Foreign Account Tax Compliance Act.  The article below outlines compliance issues and considerations. The Foreign Account Tax Compliance Act and related provisions became law in 2010.  The act targets United States taxpayer who...
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