Kansas City FBAR Attorney | International Tax Lawyers Missouri

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If you reside in Kansas City, Missouri and have unreported foreign bank and financial accounts, you may be looking for a Kansas City FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Kansas City FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Kansas City FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Kansas City FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Kansas City FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Kansas City FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Kansas City, Missouri. On the contrary, consider international tax attorneys who reside in other states and help Kansas City residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Kansas City, Missouri.

Thus, if you are looking for a Kansas City FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!

Foreign Inheritance Tax Attorney St Paul MN| International Tax Lawyers Minnesota

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Receiving a foreign inheritance may open a litany of US international tax compliance obligations. Therefore, one of the first things you should do is to seek the help of an international tax attorney who specializes in foreign inheritance reporting.  If you reside in Saint Paul, Minnesota, you need to look for a Foreign Inheritance Tax Attorney St Paul. You will find that Sherayzen Law Office Ltd. is very likely to be the perfect fit for you.

Foreign Inheritance Tax Attorney St Paul: Why Foreign Inheritance is So Important to Your US international Tax Compliance

There are two main reasons why receiving a foreign inheritance may be a critical event for your US international tax compliance. First, receiving a foreign inheritance means that you have additional assets, income and transactions to report to the IRS.  The way that US international tax law works, it means that it is usually more than just one requirement is triggered. Rather, it may be a set of issues and reporting obligations that require an experienced international tax attorney to resolve them correctly. 

The multitude and complexity of issues can be fairly large: from the reporting of the foreign inheritance itself, income recognition, transfer of cash/assets to the United States to additional reporting requirements concerning newly acquired foreign assets and offshore voluntary disclosures involving prior noncompliance. You should keep in mind that noncompliance with these requirements may result in the assessment of high IRS penalties.

The second reason why a foreign inheritance is so important and so dangerous is the relative complacency with respect to and even complete nonrecognition of the potential US tax consequences of receiving a foreign inheritance with all of the multitude of issues to which I alluded above.  The problem is not just that many US taxpayers are completely ignorant of the fact that a foreign inheritance may require extensive US tax compliance. Even worse, many taxpayers erroneously but ardently believe that a foreign inheritance is something completely unrelated to the United States and should not have any US tax consequences. At best, they may focus on Form 3520 reporting while overlooking the complexity of the rest of the issues involved in receiving a foreign inheritance.

This is precisely why I highly recommend consulting an international tax lawyer with extensive experience in foreign inheritance US tax reporting, such as Sherayzen Law Office, if you have received or about to receive a foreign inheritance.

Foreign Inheritance Tax Attorney St Paul: International Tax Lawyer

I just mentioned that you need to seek the help of an international tax attorney rather than just a foreign inheritance tax attorney.  Why is that?

The answer is simple: a foreign inheritance attorney is first and foremost an international tax lawyer – i.e. a lawyer with profound knowledge of and extensive experience in US international tax law, particularly in the area of US international tax compliance. This means that a lawyer must be familiar with such common US international tax forms as Form 3520 (critically important for foreign inheritance reporting) and Form 8938.  He must also understand and be able to identify related US international tax compliance forms such as Forms 3520-A, 5471, 8858, 8865 cetera.  Of course, every US international tax lawyer must be very familiar with FinCEN Form 114 commonly known as FBAR.

In addition to these information returns, an international tax lawyer must be familiar with all types of foreign income reporting.  This requirement includes the knowledge of foreign rental income, PFIC compliance, GILTI income, capital gains concerning foreign real estate, et cetera.

Sherayzen Law Office is a highly experienced international tax law firm with respect to all of these income tax and information return requirements, including specifically all of the aforementioned forms.

Foreign Inheritance Tax Attorney St Paul: Tax Planning

It is highly prudent to engage in tax planning concerning a foreign inheritance. This is important not only for the purpose of limiting future tax burdens, but also to control future US tax compliance costs.  

Sherayzen Law Office has extensive experience in foreign inheritance US tax planning for its clients in St Paul and all over the world. We also have a highly valuable experience of combining income tax planning with offshore voluntary disclosures.

Foreign Inheritance Tax Attorney St Paul: Offshore Voluntary Disclosures

Perhaps you learned late about your US international tax compliance requirements concerning foreign inheritance. In fact, this is a very common situation. In this case, you will find yourself in a very uncomfortable position of facing potentially multiple high IRS penalties for multiple violations of US international tax law.

For this reason, your foreign inheritance tax attorney must also have a profound understanding of the IRS voluntary disclosure options. In fact, in my experience, a discussion of a foreign inheritance often leads to the identification of past US international tax noncompliance and the immediate discussion of IRS offshore voluntary disclosure to remedy past noncompliance.

Offshore Voluntary Disclosures is a core area of our international tax practice at Sherayzen Law Office. We have helped hundreds of US taxpayers worldwide, including in St Paul, to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of all kinds of offshore voluntary disclosures including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), et cetera.

Contact Sherayzen Law Office for Professional Foreign Inheritance Tax Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including foreign inheritance reporting.  We have helped numerous clients around the world with their foreign inheritance US tax compliance. We can help you! Hence, if you are looking for a Foreign Inheritance Tax Attorney St Paul, contact us now to schedule Your Confidential Consultation!

2024 FBAR Conversion Rates | FBAR International Tax Lawyer

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The 2024 FBAR conversion rates are very important for your US international tax compliance. The reason for their importance is their relation to FBAR (FinCEN Form 114) and the IRS Form 8938. The 2024 FBAR and 2024 Form 8938 instructions both require that 2024 FBAR conversion rates be used to report the required highest balances of foreign financial assets on these forms (in the case of Form 8938, the 2024 FBAR conversion rates is the default choice, not an exclusive one). In other words, the 2024 FBAR conversion rates are used to translate foreign-currency highest balances into US dollars for the purposes of FBAR and Form 8938 compliance.

The U.S. Department of Treasury  already published the 2024 FBAR conversion rates online (they are called “Treasury’s Financial Management Service rates” or the “FMS rates”).

Since the 2024 FBAR conversion rates are highly important to US taxpayers, international tax lawyers and international tax accountants, Sherayzen Law Office provides the table below listing the official 2024 FBAR conversion rates (note that the readers still need to refer to the official website for any updates).

Country – Currency Foreign Currency to $1.00
AFGHANISTAN – AFGHANI70.3500
ALBANIA – LEK93.8500
ALGERIA – DINAR135.1030
ANGOLA – KWANZA912.0000
ANTIGUA – BARBUDA – E. CARIBBEAN DOLLAR2.7000
ARGENTINA – PESO1052.5000
ARMENIA – DRAM390.0000
AUSTRALIA – DOLLAR1.6120
AUSTRIA – EURO0.9610
AZERBAIJAN – MANAT1.7000
BAHAMAS – DOLLAR1.0000
BAHRAIN – DINAR0.3770
BANGLADESH – TAKA119.0000
BARBADOS – DOLLAR2.0200
BELARUS – NEW RUBLEUNAVAILABLE*
BELGIUM – EURO0.9610
BELIZE – DOLLAR2.0000
BENIN – CFA FRANC626.0000
BERMUDA – DOLLAR1.0000
BOLIVIA – BOLIVIANO6.8600
BOSNIA – MARKA1.8800
BOTSWANA – PULA13.9670
BRAZIL – REAL6.1840
BRUNEI – DOLLAR1.3630
BULGARIA – LEV NEW1.8800
BURKINA FASO – CFA FRANC626.0000
BURUNDI – FRANC2900.0000
CAMBODIA – RIEL4015.0000
CAMEROON – CFA FRANC630.5500
CANADA – DOLLAR1.4380
CAPE VERDE – ESCUDO105.9900
CAYMAN ISLANDS – DOLLAR0.8200
CENTRAL AFRICAN REPUBLIC – CFA FRANC630.5500
CHAD – CFA FRANC630.5500
CHILE – PESO992.6000
CHINA – RENMINBI7.2990
COLOMBIA – PESO4402.4900
COMOROS – FRANC473.2900
CONGO – CFA FRANC630.5500
COSTA RICA – COLON506.0000
COTE D’IVOIRE – CFA FRANC626.0000
CROATIA – EURO0.9610
CUBA – Chavito1.0000
CUBA – PESO24.0000
CYPRUS – EURO0.9610
CZECH REPUBLIC – KORUNA23.5380
DEM. REP. OF CONGO – CONGOLESE FRANC2843.0000
DENMARK – KRONE7.1700
DJIBOUTI – FRANC177.0000
DOMINICAN REPUBLIC – PESO60.7100
ECUADOR – DOLARES1.0000
EGYPT – POUND50.7900
EL SALVADOR – DOLLAR1.0000
EQUATORIAL GUINEA – CFA FRANC630.5500
ERITREA – NAKFA15.0000
ESTONIA – EURO0.9610
ESWATINI – LILANGENI18.8500
ETHIOPIA – BIRR125.3830
EURO ZONE – EURO0.9610
FIJI – DOLLAR2.2890
FINLAND – EURO0.9610
FRANCE – EURO0.9610
GABON – CFA FRANC630.5500
GAMBIA – DALASI70.0000
GEORGIA – LARI2.7800
GERMANY – EURO0.9610
GHANA – CEDI14.6500
GREECE – EURO0.9610
GRENADA – EAST CARIBBEAN DOLLAR2.7000
GUATEMALA – QUETZAL7.7000
GUINEA BISSAU – CFA FRANC626.0000
GUINEA – FRANC8602.0000
GUYANA – DOLLAR215.0000
HAITI – GOURDE130.1930
HONDURAS – LEMPIRA25.3150
HONG KONG – DOLLAR7.7660
HUNGARY – FORINT395.3200
ICELAND – KRONA138.1900
INDIA – RUPEE85.5770
INDONESIA – RUPIAH16067.1300
IRAN – RIAL42000.0000
IRAQ – DINAR1309.0000
IRELAND – EURO0.9610
ISRAEL – SHEKEL3.6470
ITALY – EURO0.9610
JAMAICA – DOLLAR159.0000
JAPAN – YEN156.8500
JORDAN – DINAR0.7080
KAZAKHSTAN – TENGE524.6000
KENYA – SHILLING128.8500
KOREA – WON1473.2700
KOSOVO – EURO0.9610
KUWAIT – DINAR0.3080
KYRGYZSTAN – SOM86.9990
LAOS – KIP21744.0000
LATVIA – EURO0.9610
LEBANON – POUND89500.0000
LESOTHO – MALOTI18.8500
LIBERIA – DOLLAR183.0000
LIBYA – DINAR4.9040
LITHUANIA – EURO0.9610
LUXEMBOURG – EURO0.9610
MADAGASCAR – ARIARY4620.0000
MALAWI – KWACHA1751.0000
MALAYSIA – RINGGIT4.4680
MALDIVES – RUFIYAA15.4200
MALI – CFA FRANC626.0000
MALTA – EURO0.9610
MARSHALL ISLANDS – DOLLAR1.0000
MAURITANIA – OUGUIYA39.7140
MAURITIUS – RUPEE46.9300
MEXICO – PESO20.7040
MICRONESIA – DOLLAR1.0000
MOLDOVA – LEU18.3000
MONGOLIA – TUGRIK3420.0000
MONTENEGRO – EURO0.9610
MOROCCO – DIRHAM10.1030
MOZAMBIQUE – METICAL 63.2700
MYANMAR – KYAT3596.0000
NAMIBIA – DOLLAR18.8500
NEPAL – RUPEE136.9800
NETHERLANDS – EURO0.9610
NETHERLANDS ANTILLES – GUILDER1.7800
NEW ZEALAND – DOLLAR1.7810
NICARAGUA – CORDOBA36.6000
NIGER – CFA FRANC626.0000
NIGERIA – NAIRA1540.0000
NORWAY – KRONE11.3220
OMAN – RIAL0.3850
PAKISTAN – RUPEE278.4000
PALAU – DOLLAR1.0000
PANAMA – DOLARES1.0000
PAPUA NEW GUINEA – KINA3.9920
PARAGUAY – GUARANI7793.7200
PERU – SOL3.7570
PHILIPPINES – PESO58.0250
POLAND – ZLOTY4.1080
PORTUGAL – EURO0.9610
QATAR – RIYAL3.6450
REP. OF N MACEDONIA – DENAR58.8600
ROMANIA – NEW LEU4.7790
RUSSIA – RUBLE108.0000
RWANDA – FRANC1340.0000
SAO TOME & PRINCIPE – NEW DOBRAS23.4790
SAUDI ARABIA – RIYAL3.7500
SENEGAL – CFA FRANC626.0000
SERBIA – DINAR112.3200
SEYCHELLES – RUPEE14.3550
SIERRA LEONE – LEONE22.5900
SIERRA LEONE – OLD LEONE21.4000
SINGAPORE – DOLLAR1.3630
SLOVAK REPUBLIC – EURO0.9610
SLOVENIA – EURO0.9610
SOLOMON ISLANDS – DOLLAR8.0650
SOMALI – SHILLING568.0000
SOUTH AFRICA – RAND18.8500
SOUTH SUDAN – SUDANESE POUND3900.0000
SPAIN – EURO0.9610
SRI LANKA – RUPEE293.0000
ST LUCIA – E CARIBBEAN DOLLAR2.7000
SUDAN – SUDANESE POUND1987.0000
SURINAME – GUILDER35.1920
SWEDEN – KRONA11.0060
SWITZERLAND – FRANC0.9050
SYRIA – POUND12625.0000
TAIWAN – DOLLAR32.7090
TAJIKISTAN – SOMONI10.8500
TANZANIA – SHILLING2400.0000
THAILAND – BAHT34.3300
TIMOR – LESTE DILI1.0000
TOGO – CFA FRANC626.0000
TONGA – PA’ANGA2.3560
TRINIDAD & TOBAGO – DOLLAR6.7660
TUNISIA – DINAR3.1800
TURKEY – NEW LIRA35.3650
TURKMENISTAN – NEW MANAT3.4910
UGANDA – SHILLING3674.0000
UKRAINE – HRYVNIA42.0420
UNITED ARAB EMIRATES – DIRHAM3.6730
UNITED KINGDOM – POUND STERLING0.7970
URUGUAY – PESO43.6600
UZBEKISTAN – SOM12899.9000
VANUATU – VATU116.0000
VENEZUELA – BOLIVAR SOBERANO51.8970
VENEZUELA – FUERTE (OLD)248832.0000
VIETNAM – DONG25480.0000
WESTERN SAMOA – TALA2.7400
YEMEN – RIAL528.0000
ZAMBIA – NEW KWACHA27.7750
ZIMBABWE – GOLD25.0250

*Note #1: As of the time of this article, the Department of Treasury still has not published the FBAR rate for Belarus. Please, consult the Department of the Treasury for clarification.

Jacksonville FBAR Attorney | International Tax Lawyer Florida

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If you reside in Jacksonville, Florida and have unreported foreign bank and financial accounts, you may be looking for a Jacksonville FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Jacksonville FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Jacksonville FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Jacksonville FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Jacksonville FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Jacksonville FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Jacksonville, Florida. On the contrary, consider international tax attorneys who reside in other states and help Jacksonville residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Jacksonville, Florida.

Thus, if you are looking for a Jacksonville FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!

Lancaster FBAR Attorney | International Tax Lawyer Pennsylvania

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If you reside in Lancaster, Pennsylvania and have unreported foreign bank and financial accounts, you may be looking for a Lancaster FBAR Attorney.  In this case, you should contact Sherayzen Law Office, Ltd., a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent. Let’s consider the main reasons for it.

Lancaster FBAR Attorney: International Tax Lawyer

From the outset, it is very important to understand that, by looking for Lancaster FBAR attorney, in reality, you are searching for an international tax lawyer who specializes in FBAR compliance.

The reason for this conclusion is the fact that FBAR enforcement belongs to a very special field of US tax law – US international tax law. FBAR is an information return concerning foreign assets, which necessarily involves US international tax compliance concerning foreign assets/foreign income. Moreover, ever since the FBAR enforcement was turned over to the IRS in 2001, the term FBAR attorney applies almost exclusively to tax attorneys.

Hence, when you look for an FBAR attorney, you are looking for an international tax attorney with a specialty in FBAR compliance.

Lancaster FBAR Attorney: Deep Knowledge of US International Tax Law and Offshore Voluntary Disclosures

When retaining Lancaster FBAR attorney, consider the fact that such an attorney’s work is not limited only to the preparation and filing of FBARs. Rather, the attorney should be able to deliver a variety of tax services and freely operate with experience and knowledge in all relevant areas of US international tax law, including the various offshore voluntary disclosure options concerning delinquent FBARs.

Moreover, as part of an offshore voluntary disclosure, an FBAR Attorney often needs to amend US tax returns, properly prepare foreign financial statements according to US GAAP, correctly calculate PFICs, and complete an innumerable number of other tasks.

Mr. Sherayzen and his team of motivated experienced tax professionals of Sherayzen Law Office have helped hundreds of US taxpayers worldwide to bring their tax affairs into full compliance with US tax laws. This work included the preparation and filing of offshore voluntary disclosures concerning delinquent FBARs. Sherayzen Law Office offers help with all kinds of offshore voluntary disclosure options, including: SDOP (Streamlined Domestic Offshore Procedures), SFOP (Streamlined Foreign Offshore Procedures), DFSP (Delinquent FBAR Submission Procedures), DIIRSP (Delinquent International Information Return Submission Procedures), IRS VDP (IRS Voluntary Disclosure Practice) and Reasonable Cause disclosures.

Lancaster FBAR Attorney: Out-Of-State International Tax Lawyer

Whenever you are looking for an attorney who specializes in US international tax law (which is a federal area of law, not a state one), you do not need to limit yourself to lawyers who reside in Lancaster, Pennsylvania. On the contrary, consider international tax attorneys who reside in other states and help Lancaster residents with their FBAR compliance.

Contact Sherayzen Law Office for Professional FBAR Help

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance, including FBARs. While our office is in Minneapolis, Minnesota, we help taxpayers who reside throughout the United States, including Lancaster, Pennsylvania. Thus, if you are looking for a Lancaster FBAR Attorney, contact Mr. Sherayzen as soon as possible to schedule Your Confidential Consultation!