Do you reside in Madison and have undisclosed foreign accounts? Are you searching for a highly-knowledgeable Madison FBAR Attorney to help you resolve this situation? Then, you should read this essay in order to understand who is considered to be a Madison FBAR Attorney and and why you should retain the services of my firm, Sherayzen Law Office, PLLC.
Madison FBAR Attorney: Geographical Location
There is a traditional preference among people to choose an attorney who lives in their city due to perceived communication problems with an attorney outside of their city. Also, often, the fact that their attorney is local sometimes gives an illusion of a better control over the case.
This is an incorrect view when it comes to a case that involves FBARs – in reality, the geographical location of a Madison FBAR Attorney does not have any impact on the attorney’s ability to conduct your FBAR case. The reason is that FBAR is federal law; the state of Wisconsin and the city of Madison have no impact over the implementation and enforcement of FBAR. This means that the physical location of a Madison FBAR Attorney does not affect the effectiveness of his legal representation of his clients in Madison or any other city.
Furthermore, the communication issue is a mythical problem in today’s world. The development of modern communications technologies has eliminated the entire advantage of retaining a local Madison FBAR Attorney. Even if your attorney lives and works in Madison, almost your entire communication with him is going to be through email, telephone and regular mail – i.e. the same as if your attorney resides in Madison. The infrequent person-to-person meetings can now be replicated through a video Skype conference.
Finally, retaining a local Madison FBAR Attorney has no impact on the control over the case by the client. It all depends on the personality of the attorney; a good attorney would maintain control over the legal side of the case, while allowing his client to make informed choices with respect to issues that require a client’s input (such as a personal preference for a voluntary disclosure path).
All of this analysis leads us to two important conclusions. First, a Madison FBAR Attorney is any attorney, irrespective of his residence, who offers his FBAR services in Madison. Second, the geographical location should not have influence over your decision to retain a Madison FBAR Attorney; the personality and, as will be explained below, the knowledge of your attorney is what really matters.
Madison FBAR Attorney: Knowledge of International Tax Law and FBARs is the Key
We are now approaching the key consideration that you should have in retaining a Madison FBAR Attorney: his knowledge of the subject matter.
The subject matter that your Madison FBAR attorney must know should be broader than just FBARs. Rather, he should know about FBAR, the place this form occupies within the US international tax system and how FBAR interacts with other US international tax compliance requirements, such as foreign income reporting, FATCA Form 8938, Form 8621, foreign business ownership information returns, et cetera. This profound knowledge of US international tax law should also include the knowledge of remedying past noncompliance, including the various voluntary disclosure options.
Thus, FBAR issues are often highly intertwined with the rest of the US tax laws and this interaction is what will make the real impact on your tax position in the United States. This is why your Madison FBAR Attorney should be highly knowledgeable in US international tax law in general, not just FBARs.
Madison FBAR Attorney: Contact Sherayzen Law Office
We are now ready to answer the main underlying question of this essay: who should you retain if you are looking for a highly-skilled Madison FBAR Attorney? While the actual choice is ultimately personal, based on the objective criteria, Sherayzen Law Office definitely should be a top candidate in your search.
Sherayzen Law Office is a leading tax firm in the area of FBAR compliance due to profound knowledge of the subject matter and extensive experience of dealing with FBARs and related issues including foreign income reporting, FATCA compliance (Form 8938), PFIC compliance (Form 8621), Subpart F rules, all types of US international reporting returns (3520, 3520-A, 5471, 8865, 8858, 926, et cetera), US income tax returns (individual, partnership and corporate) for domestic and foreign persons and other issues.
Furthermore, Sherayzen Law Office has helped hundreds of clients with their past FBAR noncompliance. In fact, this is one of the leading international tax law firms in the world with experience in all major IRS offshore voluntary disclosure programs, including 2009 OVDP, 2011 OVDI, 2012 OVDP and the still current (as of August of 2016) 2014 OVDP.