International Tax Controversy and Compliance
International taxation is complex and intricate, but this should not stop you or your business from expanding. At Brotman Law, our attorneys have mastered the complexity of international tax law, and we leverage our expertise to uncover opportunities abroad, empowering your business to expand strategically and capitalize on global prospects.
SAVE YOU MONEY
We save you money in the current tax year and create savings that will undoubtedly send a ripple through the coming years. In the long run, thousands of dollars will grow to hundreds of thousands, then millions in savings.
GREATER WEALTH
We help you keep more money in your pockets for investing, saving, or anything else that contributes to a good life. Our attorneys strive to reduce your lifetime tax liability by implementing different legal tax optimization strategies.
PEACE OF MIND
We work with you to ensure every item is correctly captured on your tax returns allowing you to enjoy greater peace of mind.
Overview
The Departments of Justice and Treasury work together to crack down on the failure to report foreign accounts and income. As their efforts have proved profitable, with $6.5 billion of collected revenue, more assets have been allocated to allow Justice and Treasury to expand upon their success.
This tightening up of the “escape hatches” has made taxpayers with foreign assets more vulnerable to scrutiny, and that is where our firm can help. Our attorneys have achieved a high level of understanding and proficiency in handling the complexities associated with international tax law, and we use our experience to not only keep you in compliance but to optimize the opportunities available to you.
IRS AUDIT TRIGGERS
What Else Should I Know?
U.S. taxpayers maintain offshore accounts for a variety of reasons, including diversification, access to higher interest rates, and the expertise of global money managers. Other benefits may include the convenience of traveling or living abroad, managing inherited assets overseas, and supporting relatives in other countries.
American business interests have also grown across the globe, and both multinational corporations and individuals maintain accounts abroad to fund their various business operations or their living expenses.
We understand this, and we know that even if your intentions are to do right, the complexity and difficulty of international tax law can make it easy to make mistakes. If you’ve made a mistake, don’t worry. There are plenty of options we can utilize to get you back in compliance.
If you have foreign income that requires disclosure, the IRS offers several options we can explore together. Our process begins with a confidential strategy call, where you can share the specifics of your situation. This conversation is protected under attorney-client privilege, providing a level of confidentiality that CPAs cannot offer.
We will evaluate your hard data and numbers and look at the projected impact of different actions with the goal of reaching a decision. At Brotman Law, we don’t make decisions for our clients, but provide you with all the facts you need to make an informed decision. Once a decision is made, we take care of all the necessary steps and logistics to execute your chosen course effectively.
The Departments of Justice and Treasury work with the Internal Revenue Service, Financial Crimes Enforcement Network (FinCEN), and the Office of the Attorney General in a collaborative effort to target individuals, banks, foreign financial institutions, and countries who don’t comply with FATCA and the U.S. tax laws. This concerted effort has resulted in the collection of over $6.5 billion in revenue.
For U.S. taxpayers with international tax issues, ensuring compliance with these stringent regulations is key to avoiding severe penalties and fees. We designed this service to help taxpayers like you understand and meet your obligations under the Foreign Account Tax Compliance Act (FATCA) and other regulatory frameworks. We provide our clients with strategic guidance and proactive solutions to mitigate risks, protect assets, and ensure compliance with U.S. tax laws.
WE KNOW OUR STUFF
Our team has navigated the complexities of cross-border transactions, compliance with FATCA, and various international tax treaties. We are adept at analyzing intricate legal provisions, identifying opportunities for tax optimization, and mitigating risks associated with international tax planning.
CPA OR TAX ATTORNEY
While CPAs excel in preparing tax returns, the complexities of international tax laws demand specialized knowledge and strategic insight. Our experienced tax attorneys not only comprehend international tax laws thoroughly but also excel in mitigating penalties when necessary.
PERSONAL ATTENTION
We pride ourselves on delivering personalized attention and tailored solutions for clients facing international tax issues.
Our Clients Will Tell You: We Get Results.
Tax Strategies, Case Studies, and Thought Leadership
Hundreds of $1,000,000s
Saved in Tax Penalties
100+
Appeal Victories
$1B+
Saved in Taxes
150+
Multimillion and billion-dollar corporate transactions
11+
Tax Services
400+
Clients represented in an audit
$160M+
in ERC Tax Credits
Our Thought Leadership Has Appeared In
Push Play
Book a Free 15-Minute Assessment Call
Set up a quick call with our firm’s concierge to see if we’ll be able to help you. The whole process will take 15 minutes or less.
STILL HAVE QUESTIONS?
Under the law, U.S. citizens, resident aliens and certain nonresident aliens are required to report worldwide income from all sources, including foreign bank and financial accounts, to the IRS under the Foreign Account Tax Compliance Act (FATCA).
Non-compliance with international tax laws can result in significant penalties, such as failure-to-file or failure-to-pay penalties, accuracy-related penalties for tax return inaccuracies, and severe FBAR penalties for not reporting foreign financial accounts. It is very important you understand and comply with international tax requirements to avoid these penalties and potential legal consequences.
FATCA (Foreign Account Tax Compliance Act) is a U.S. law aimed at combating tax evasion by U.S. taxpayers holding assets in foreign financial institutions. It requires foreign financial institutions to report information about financial accounts held by U.S. taxpayers to the IRS or their local tax authorities.