Streamlined Disclosure Attorney Madison | FATCA OVDP Lawyer

In today’s world connected through an invisible network of new technologies, a great number of persons prefer to choose an attorney based on his qualities rather than his state of residence. The residents of Madison, Wisconsin, similarly search for such an attorney, especially in the area of Streamlined compliance procedures by utilizing the search words: Streamlined Disclosure Attorney Madison.

The question is whether an attorney in Minneapolis falls within the search for Streamlined Disclosure Attorney Madison. Furthermore, is there an ethical problem? – i.e. does a Minnesota attorney’s license extend to help clients in Madison with respect to Streamlined Compliance Procedures? Let’s answer all of these questions in this article.

Streamlined Disclosure Attorney Madison Search Includes Attorneys Who Reside in Another State

The answer to the first question is “yes’ – the search for Streamlined Disclosure Attorney Madison includes an attorney whose residence is in Minneapolis as long as this attorney offers his services in Madison to help clients with international tax law issues.

There can be no doubt that an attorney in Minneapolis is objectively (i.e. setting aside the personal qualities and the level of competence that naturally differ from attorney to attorney even within Madison) qualified to provide services in Madison. On the technological side, the improvements in modern communications technology with online video conferences and email, combined with the traditional express mail, have completely eliminated the logistical and administrative differences between a local attorney in Madison and an attorney from Minneapolis who offers his Streamlined Compliance Procedures services in Madison.

On the legal side, the difference never even existed. While there are still many local Madison legal issues concerning local and state law where local attorneys hold a decisive advantage over out-of-state attorneys, this is not the case when it comes to Streamlined Compliance Procedures. This is because Streamlined Compliance Procedures is a purely federal law with zero Madison or even Wisconsin influence. In fact, these procedures constitute an IRS program within the regulatory framework of the much larger US international tax law.

This means that a search for a Streamlined Disclosure Attorney Madison is really a search for an international tax attorney who deals with the Streamlined Compliance Procedures and helps clients in Madison. There is no requirement that the Streamlined Disclosure Attorney Madison actually resides in Madison.

Streamlined Disclosure Attorney Madison Search Applies to Any US International Tax Attorney Without Any License Limitations

The answer to the second question – whether there are any license limitations for a Minnesota attorney to offer international tax services related to Streamlined Compliance Procedures to clients in Madison – is clear from the discussion above: no, there are no attorney license limitations in this case.

Again, the search for Streamlined Disclosure Attorney Madison is a search for an international tax attorney for a specific US international tax law issue. In fact, a search for Streamlined Disclosure Attorney Madison can be easily replaced by a search for a broader category of International Tax Attorney Madison. There is simply no specific local input from City of Madison or the State of Wisconsin, and, theoretically, any attorney licensed to practice in the United States can practice federal tax law.

Of course, in practice, only highly specialized international tax attorneys are competent enough to practice in the area of US international tax law. The number of such attorneys is extremely small; this means that the persons who search for a Streamlined Disclosure Attorney Madison must necessarily broaden their search to attorneys who reside in other states in order to have a real chance for choosing the right Streamlined Disclosure Attorney Madison.

Sherayzen Law Office Offers Services Related to Streamlined Compliance Procedures and Can Be Your Streamlined Disclosure Attorney Madison

Sherayzen Law Office is an international tax law firm that specializes in all types of offshore voluntary disclosure, including Streamlined Compliance Procedures. Our professional tax team, headed by Mr. Eugene Sherayzen, is highly experienced in helping US clients around the globe with their US international tax issues, including voluntary disclosure of foreign accounts and other foreign assets. This why Sherayzen Law Office should be considered as a top candidate when you search for Streamlined Disclosure Attorney Madison.

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Streamlined Disclosure Attorney Indianapolis | IRS OVDP Lawyer

Streamlined Disclosure Attorney Indianapolis is a common search by US taxpayers who are looking for legal help in Indianapolis with their streamlined voluntary disclosure of undeclared foreign assets and foreign income. Let’s analyze this search term – Streamlined Disclosure Attorney Indianapolis – to identify the type of attorney that fits this search best.

Streamlined Disclosure Attorney Indianapolis Search Applies to SDOP and SFOP

The first point to note is that the search for Streamlined Disclosure Attorney Indianapolis includes all attorneys who help clients with both SDOP (Streamlined Domestic Offshore Procedures) and SFOP (Streamlined Foreign Offshore Procedures).

Streamlined Disclosure Attorney Indianapolis Search Is Really a Search for an International Tax Attorney

Second, when a taxpayer is looking for a Streamlined Disclosure Attorney Indianapolis, he is really searching for an international tax attorney. SFOP, SDOP, OVDP, FBAR, Form 8938, et cetera – all of these programs and forms are just small parts of the much larger US international tax law which can be only practiced by a US international tax attorney.

Moreover, this attorney must understand not only these small parts of the international tax law, but also how SDOP and SFOP fit into the framework of US international tax law, how the IRS and FinCEN international tax information returns interact with the rest of the US tax laws and Treasury regulations, and how this interaction influences his client’s legal position with respect to SDOP and SFOP.

Hence, a search for Streamlined Disclosure Attorney Indianapolis can easily be replaced by a broader search for “International Tax Attorney Indianapolis”.

Sherayzen Law Office is an International Tax Law Firm that Falls Within the Search for Streamlined Disclosure Attorney Indianapolis

Sherayzen Law Office PLLC is an international tax law firm that specializes in all types of offshore voluntary disclosures, including SDOP and SFOP. Our legal team is highly experienced in helping US clients around the globe with their US international tax issues, including voluntary disclosure of foreign accounts and other foreign assets. This is why Sherayzen Law Office should be a top candidate when you search for Streamlined Disclosure Attorney Indianapolis!

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Streamlined Disclosure Attorney Austin | FATCA OVDP Lawyer

If you are a resident of Austin, Texas, and you have undisclosed foreign accounts, it is highly likely that you have searched for Streamlined Disclosure Attorney Austin. Let’s analyze this search term – Streamlined Disclosure Attorney Austin – to understand exactly what kind of an attorney fits this search.

Streamlined Disclosure Attorney Austin Search Applies to SDOP and SFOP

Let’s first look into the search for “Streamlined Disclosure”. In reality, this is a search for an attorney who offers legal help with respect to two types of Streamlined Filing Compliance Procedures: SDOP (Streamlined Domestic Offshore Procedures) and SFOP (Streamlined Foreign Offshore Procedures).

Streamlined Disclosure Attorney Austin Search Applies to Attorneys Who Offer Legal Services in Austin

Now, we need to analyze the geographical aspect of this search – i.e. Austin. What does it mean when one says that he is looking for an Austin attorney? Obviously, it applies to attorneys who reside in Austin and who offer streamlined disclosure services in Austin.

Furthermore, this search for a Streamlined Disclosure Attorney Austin also applies to attorneys who reside outside of Austin but offer their legal services to the residents of Austin. The reason for this conclusion lies in the federal nature of the Streamlined Filing Compliance Procedures – this is purely an IRS program and it has no local input from Austin (except the IRS office in the city). Since this is federal law, the actual residence of your Austin attorney does not matter.

What really matters is whether he offers legal services in Austin and whether he is competent in the matters concerning Streamlined Filing Compliance Procedures. This leads to the final part of the search for Streamlined Disclosure Attorney Austin – what kind of a specialized “attorney” are you searching for?

Streamlined Disclosure Attorney Austin Search Applies Only to International Tax Attorneys

By searching for Streamlined Disclosure Attorney Austin, you are really trying to find a very specific kind of an attorney – an international tax attorney. SFOP, SDOP, OVDP and any other voluntary disclosure options are just IRS programs (though, important programs) within the framework of the much larger legal area of US international tax law practice.

Hence, a Streamlined Disclosure Attorney Austin search is an attempt to find an international tax attorney who not only understands Streamlined Filing Compliance Procedures, but who also possesses deep understanding of the US international tax system, its laws and regulations, and the place SDOP and SFOP occupies within this system. This understanding is crucial to an attorney’s ability to properly analyze the case and choose the best legal strategy for his client.

Sherayzen Law Office can be Your International Tax Attorney

Sherayzen Law Office, PLLC is an international tax law firm that specializes in all types of offshore voluntary disclosures, including OVDP, SDOP and SFOP. Our professional tax team, led by attorney Eugene Sherayzen, is highly experienced in helping US clients around the globe with their US international tax issues, including offshore voluntary disclosure. This why Sherayzen Law Office should be your top candidate when you search for Streamlined Disclosure Attorney Austin.

Contact Us Today to Schedule Your Confidential Consultation!

Streamlined Disclosure Attorney Minneapolis | FATCA OVDP Lawyer

Streamlined Disclosure Attorney Minneapolis is becoming a common search for an individual who is looking for professional help in Minneapolis with his streamlined voluntary disclosure of undeclared foreign assets and foreign income. Let’s analyze this search term – Streamlined Disclosure Attorney Minneapolis – to understand what kind of an attorney fits into this search.

Streamlined Disclosure Attorney Minneapolis Search Covers SDOP and SFOP

First of all, Streamlined Disclosure Attorney Minneapolis search applies to attorneys who help clients with both SDOP (Streamlined Domestic Offshore Procedures) and SFOP (Streamlined Foreign Offshore Procedures). I already explored the both of these options in earlier articles.

Streamlined Disclosure Attorney Minneapolis Search Applies Only to International Tax Attorneys

Second, Streamlined Disclosure Attorney Minneapolis applies only to international tax attorneys. This is the case because both programs, SFOP and SDOP, form part of the IRS voluntary disclosure options which, in turn, form part of the much larger US international tax law practice. Thus, in order to be a Streamlined Disclosure Attorney in Minneapolis, the attorney must be first and foremost an international tax attorney.

What is the practical application of this conclusion? Simple and yet highly important – an attorney who offers SDOP and SFOP services must be knowledgeable in other areas of international tax law, because both of these voluntary disclosure options are highly dependent on the facts of the case and the interpretation of these facts in light of US international tax laws and regulations (including FATCA). Furthermore, SDOP and SFOP are directly concerned with various US international tax forms such as FBAR, Form 8938, Form 5471, Form 3520, Form 8621 and many others.

Hence, a search for Streamlined Disclosure Attorney Minneapolis can easily be replaced by a search for a broader category of International Tax Attorney Minneapolis.

Sherayzen Law Office is a top choice when you search for Streamlined Disclosure Attorney Minneapolis

Sherayzen Law Office Ltd. is an international tax law firm that specializes in all types of offshore voluntary disclosure, including SDOP and SFOP. Our professional tax team, headed by Mr. Eugene Sherayzen, is highly experienced in helping US clients around the globe with their US international tax issues, including voluntary disclosure of foreign accounts and other foreign assets. This why Sherayzen Law Office should be a top candidate when you search for Streamlined Disclosure Attorney Minneapolis.

Contact Us Today to Schedule Your Confidential Consultation!

IRS Form 14654 for Streamlined Domestic Offshore Procedures

IRS Form 14654 is probably the most important part of the taxpayer’s voluntary disclosure under the Streamlined Domestic Offshore Procedures (“SDOP”). In this article, I would like to explore the various parts of IRS Form 14654 and explain why this form is so important.

Please, note that IRS Form 14654 was just revised in January of 2015.

SDOP and IRS Form 14654

In June of 2014, the IRS announced the creation of a brand-new voluntary disclosure option for the taxpayers who reside in the United States – SDOP. As part of the disclosure package under SDOP, the IRS required U.S. taxpayers to submit a Certification of Non-Willfulness with respect to the taxpayers’ failure to timely disclose their foreign income and assets. At the end of August of 2014, this Certification became the new IRS Form 14654.

Purpose of IRS Form 14654

IRS Form 14654 constitutes an essential part of SDOP because this is the form used by the taxpayer to certify his non-willfulness with respect to his failure to timely and accurately report his foreign income and assets. Moreover, IRS Form 14654 also functions as a convenient summary of the calculation of the income tax liability as well as the SDOP Title 26 Miscellaneous Offshore Penalty (“Miscellaneous Offshore Penalty”). Finally, IRS Form 14654 allows the taxpayer to make a statement in support of his non-willfulness.

In order to accomplish these multiple tasks, IRS Form 14654 incorporates three different parts: income tax summary, Miscellaneous Offshore Penalty calculation, and the Certification with Explanation of Non-Willfulness.

Let’s take a closer look at each of these three parts of IRS Form 14654.

IRS Form 14654: Income Tax Summary

The very first part of the Certification is with respect to income tax liability. There is a pre-set language in IRS Form 14654 that requires the taxpayer to certify that: he is providing amended tax returns for each of the three most recent years, he filed the original tax returns previously, and he properly calculated his additional tax due with statutory interest on IRS Form 14654.

There is already a self-calculating table in the form that allows the taxpayer to quickly summarize his additional income tax liability with statutory interest per each covered year and the total amount due (which should be included on the checks written to the IRS).

IRS Form 14654: Miscellaneous Offshore Penalty Base

The second part of the certification is concerned with the taxpayer’s calculation of the Miscellaneous Offshore Penalty, or more precisely its penalty base. IRS Form 14654 provides a set of self-calculating tables to be completed by the taxpayer for all of the foreign accounts and other assets subject to the Miscellaneous Offshore Penalty. Each table requires the taxpayer to disclose the financial institution with address and description of the asset, the account number (where applicable), when the account was opened or asset acquired, and the end-of-year balance/asset value in U.S. dollars.

If additional space is needed, my experience has been that it would be best to attach to IRS Form 14654 a detailed statement disclosing all of this information. Note, the attachment should contain the taxpayer’s name, TIN and original signature.

In addition to the Miscellaneous Offshore Penalty’s penalty base calculation, IRS Form 14654 already contains the language which states that the taxpayer already filed his FBARs for the past six years and he met all of the eligibility requirements for SDOP.

IRS Form 14654: Calculation of Payments Due

The next part of the certification requires the taxpayer to summarize all of the payments due – the calculation of the Miscellaneous offshore Penalty, the total due and the total interest due. At the end of this section, the taxpayer should add all of these payments together to equal to the “Total Payment” due.

IRS Form 14654: “Comprehensive Certification” and Explanation of Non-Willfulness

Following the completion of the payment calculations section, IRS Form 14654 turns to the most important part of a SDOP case – the certification of non-willfulness with respect to income, tax payments and information returns.

The actual language for the certification of non-willfulness is already provided by the IRS on IRS Form 14654; this is a standard text that the taxpayer must agree to if he wishes to do a SDOP disclosure (i.e. this language cannot be modified). It is very important for international tax lawyers to discuss this language with their clients to make sure that they understand what they are agreeing to.

In addition to providing the standard certification text, IRS Form 14654 requires the taxpayer to provide a statement of facts and specific reasons for the original failure to report all income, pay all tax and submit all required information returns, including FBARs.

Please, note that the January of 2015 revision of IRS Form 14654 specifically allows the taxpayer to provide the explanation not only on the form itself, but also on a separate signed attachment (this clarified a previous confusion over the statement must be provided on the form only). Moreover, the new revision specifically states that the failure to provide a narrative statement of facts will result in the certification being deemed incomplete and the taxpayer will not qualify for the SDOP penalty relief.

The explanation of non-willfulness is undoubtedly the most important part of IRS Form 14654, because here the taxpayer has a unique opportunity to establish his legal case for non-willfulness. If this explanation is not deemed satisfactory to the IRS, the taxpayer may face willful FBAR penalties, civil fraud penalties and potentially even criminal penalties (see note below on the certification under the penalty of perjury).

In fact, the explanation of non-willfulness is so crucial to the taxpayer’s SDOP case, that I strongly recommend that the taxpayer refrains from completing the Streamlined certification himself or letting his accountant to do it. This is the job only for the taxpayer’s international tax attorney.

IRS Form 14654: Signature under the Penalties of Perjury

The last part of certification requires the taxpayer to sign the Form under the penalties of perjury. By signing IRS Form 14654, the taxpayer is certifying (1) that he is eligible for the Streamlined Domestic Offshore Procedures; (2) that all required FBARs have now been filed; (3) that the failure to report all income, pay all tax, and submit all required information returns, including FBARs, resulted from non-willful conduct; and (4) that the miscellaneous offshore penalty amount is accurate.

Contact Sherayzen Law Office for Help with IRS Form 14654 and Your Voluntary Disclosure Under the Streamlined Domestic Offshore Procedures

If you wish to do the voluntary disclosure of your foreign accounts under the Streamlined Domestic Offshore Procedures, contact Sherayzen Law Office for professional help. Despite the fact that SDOP only appeared last June and IRS Form 14654 was created at the end of August of 2014, our international tax law firm has already completed SDOP disclosures for a number of our clients, and we can also help you.

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