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Austin Business Trip | February 2022 | International Tax Lawyer & Attorney

In early February of 2022, Mr. Sherayzen, an international tax attorney and owner of Sherayzen Law Office, Ltd., traveled to Austin, Texas. Let’s discuss this Austin business trip in more detail.

Austin Business Trip: Goals

While the business trip to Austin was very short, Mr. Sherayzen set forth three main goals for the trip: (1) meeting with a client; (2) familiarizing himself with the city, which is a major source of clients to the firm; and (3) conducting important marketing activities to promote the firm.

All of these goals were accomplished (though #2 may still need more work) despite the fact that he came to Austin at the worst possible moment – right after a winter storm when the temperatures plummeted to the twenties (Fahrenheit) from the usual upper fifties/lower sixties and there was still ice on the roads.

Austin Business Trip: Client Meeting

The first goal was very easy to achieve as the meeting with a client was set prior to his arrival to Austin.

Austin Business Trip: Getting to Know Austin

The weather and the brevity of the Austin business trip presented a formidable challenge to the second goal. Despite these problems, Mr. Sherayzen was able to familiarize himself with the old-city Austin. Even more important, he was able to visit the IRS campus in Austin that processes streamlined disclosures: Streamlined Domestic Offshore Procedures and Streamlined Foreign Offshore Procedures. Both of these options are known as Streamlined Compliance Procedures.

Streamlined Domestic Offshore Procedures and Streamlined Foreign Offshore Procedures belong to the core practice of Sherayzen Law Office. This is why visiting the Austin IRS campus was an indispensable part of the Mr. Sherayzen’s trip to this city.

One may ask: why does Mr. Sherayzen want to know Austin in person? The answer is very simple: he wants to understand how his clients live, what their particular needs are, what logistical problems they may be facing and what are the peculiarities of their everyday life. At Sherayzen Law Office, we take an extra step in delivering customized services to our clients; for this reason, we strive to understand not only the financial situation of our clients, but also their logistics.

Austin Business Trip: Marketing

Marketing is Mr. Sherayzen’s crucial goal in almost every business trip. Nothing can replace the authenticity of marketing materials made in the city where the client lives. For this reason, more than two-thirds of his trip to Austin was devoted to marketing activities.

Given the presence of an IRS campus in Austin, offshore voluntary disclosures of course constituted the focus of these marketing activities. Besides Streamlined Domestic Offshore Procedures and Streamlined Foreign Offshore Procedures, Mr. Sherayzen also covered IRS Voluntary Disclosure Practice and other voluntary disclosure options.

Additionally, as always, Mr. Sherayzen promoted the awareness of the FBAR and FATCA reporting requirements in his marketing activities. The attorney also covered important US international tax information returns such as: Forms 8865, 5471, 3520, 3520-A, et cetera.

Austin Business Trip is Part of a Major Marketing Strategy

The Austin business trip is merely one part of a major marketing strategy that Sherayzen Law Office launched last year. It is projected that this strategy will run through the end of the year 2027.

Contact Sherayzen Law Office for Professional Help With Your Offshore Voluntary Disclosure and US International Tax Compliance

Sherayzen Law Office is an international tax law firm that specializes in US international tax compliance and offshore voluntary disclosures. We help clients with their US international tax compliance issues throughout the world, including in all fifty states of the United States.

Contact Us Today to Schedule Your Confidential Consultation!

Austin FBAR Tax Lawyer

A question that I would like to explore in this article is: Who is considered to be an Austin FBAR tax lawyer?

It seems to be an odd question, because a lot of people would say that an Austin FBAR tax lawyer is an attorney who resides in Austin and does FBAR law.

This, however, is an over-simplistic and incorrect view. First of all, there is no area of “FBAR” law. Rather, FBAR is a tax information return which is being administered by the IRS on behalf of FinCEN. This means that FBAR “law” forms part of a larger compliance framework within the area of international tax law. In essence, all “FBAR tax lawyers” are in reality international tax lawyers who must be knowledgeable not just about the FBARs, but about all relevant areas of international tax law.

However, despite its technical deficiencies, the term FBAR tax lawyers is commonly used to describe an international tax lawyer who helps his clients with FBAR compliance.

Second, an Austin FBAR tax lawyer does not mean that the tax lawyer must reside in Austin. FBAR is part of US federal tax law and can be practiced by an international tax lawyer who is licensed in any of the 50 states of the United States.

Thus, an international tax lawyer who is able to help his clients with FBAR compliance in Austin, Texas, is an Austin FBAR tax lawyer. This means that an Austin FBAR tax lawyer can actually reside in Minneapolis or any other city.

In this case, the modern means of communications usually come into play: email, Skype video conferences, telephone and regular mail. In fact, aside from initial consultation, your communication with an Austin FBAR tax lawyer who actually resides in Austin is likely to be limited exactly to these modern means of communication with very rare (if any) face-to-face meetings.

With this information in mind, we can now go back and answer my original question: Who is considered to be an Austin FBAR tax lawyer? The answer is as follows: An Austin FBAR tax lawyer is an international tax lawyer who is licensed to practice in any of the 50 states of the United States, resides anywhere in the United States (Minneapolis, for example) or any other country, and helps his clients in Austin with FBAR compliance with the help of modern means of communication.

Contact Sherayzen Law Office If You Are Looking for an Austin FBAR Tax Lawyer

If you are looking for an Austin FBAR tax lawyer, contact Sherayzen Law Office, Ltd., an international tax law firm that specializes in FBAR compliance and helps its clients in Austin, Texas.

Our professional legal team is highly experienced in FBAR compliance, including current FBAR compliance and FBAR voluntary disclosures. We have helped clients with every major IRS voluntary disclosure program (2009 OVDP, 2011 OVDI, 2012 OVDP and the currently-existing 2014 OVDP), both types of Streamlined Disclosures (Streamlined Domestic Offshore Procedures and Streamlined Foreign Offshore Procedures), Delinquent International Information Return Submission Procedures and Delinquent FBAR Submission Procedures.

Contact Us Today to Schedule Your Confidential Consultation!

New FBAR Deadline

There has been a lot of confusion surrounding the new FBAR deadline. Since the FBAR is one of the most important US international tax deadlines, it is important to clarify the change in the FBAR filing deadline.

What is “FBAR”?

FinCEN Form 114, commonly known as FBAR, is the Report of Foreign Bank and Financial Accounts. This form is used by US taxpayers to report their financial interest in or signatory authority over foreign financial accounts. Failure to timely file the FBAR may result in draconian IRS penalties.

Traditional FBAR Deadline

Until the recent change in the law, an FBAR for each relevant calendar year was required to be filed by June 30 of the following year. For example, the 2014 FBAR was due on June 30, 2015. No filings extensions were allowed.

New FBAR Deadline Under Surface Transportation and Veterans Health Care Choice Improvement Act of 2015

The bulk of the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015″ has nothing to do with tax law. Yet, some of the most important changes in the IRS filing deadlines were tucked into this innocuously sounding law.

One of the most important changes concerned the new FBAR deadline. Starting the tax year 2016, FBARs will be due on April 15, not June 30. Moreover, a six-month extension will be available until October 15.

2015 and 2016 FBAR Deadlines

Let’s put it all together. The most important issue here is not to confuse 2016 filing deadline for the year 2015 and the filing deadline for the 2016 FBAR. The 2015 FBAR will still be filed under old rules and it will be due on June 30, 2016.

However, the 2016 FBAR will follow the new FBAR Deadline of April 15, 2017 with the possible extension to October 15, 2017.

Contact Sherayzen Law Office for Legal Help with 2015 and 2016 FBARs

If you have any questions regarding the new FBAR deadline, 2015 FBAR or past unfiled FBARs, contact Sherayzen Law Office for professional legal and accounting help. Mr. Eugene Sherayzen, a Minneapolis FBAR lawyer, will review your case, identify your FBAR and other US tax compliance issues, determine the plan for further action and implement the proposed solution.