Offshore Bank Accounts/FBAR
It is not uncommon for businesses and individuals of substantial means to store some or all of their assets in accounts outside the United States. Many countries such as Switzerland, Cyprus and other so-called “tax havens” offer certain tax advantages that the United States does not offer.
FBAR Attorneys In NYC
If you or your business has a foreign account that had $10,000 or more at any point in a given year, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR). The failure to file an FBAR can create major problems for you or your business.
When foreign investment reporting becomes a critical, potentially expensive issue for your company, or for you as an individual, contact a Greenspan & Greenspan P.C. law office in New York. Our New York attorneys for foreign bank accounts can help — just as we have helped commercial concerns of all kinds in the U.S. and abroad for more than 50 years.
Helping Businesses And Individuals With Major Offshore Accounts
The federal government estimates that it loses more than $100 billion a year to overseas accounts. As a result, it is devoting increasing resources to make the use of foreign accounts less advantageous to businesses and individuals. If you have significant offshore assets and are concerned that you may not be in compliance with applicable federal laws, the skilled assistance of an experienced tax lawyer is vital. The attorneys of Greenspan & Greenspan P.C. have decades of legal experience and are fully versed in these intricate legal issues. Our law firm has locations in White Plains and New City, New York.
Come To Us Before They Come To You — Contact Greenspan & Greenspan P.C.
To learn more about whether a tax amnesty or another option will alleviate your tax concerns, call our office. With law offices in New York our foreign bank and financial accounts attorneys are uniquely situated to deal with your foreign bank account reporting issues. Contact us.