The IRS is reviewing cases involving individuals and businesses that have not reported foreign income. If your FBAR filing is overdue, tax CPA Mildrid Esua can provide assistance. He has experience in helping taxpayers achieve compliance with FBAR requirements for income already reported on tax returns. His services include representation and support for Offshore Voluntary Disclosure (OVDP) for those who have not filed as required:

FBAR for foreign accounts and investments

FATCA Form 8938 on securities and foreign entities

Form 3520 for foreign trusts

Form 8865 for foreign partnerships

Who Needs to Report FBAR?

FBAR filings are often required for those who have financial interest or signature authority over foreign financial accounts like bank accounts, trusts, mutual funds and other types of foreign accounts. If any of these accounts exceed $10,000 at any point during the calendar year, you need to file an FBAR, even if you have reported the income on your annual tax return. This applies to U.S. residents, U.S. citizens, entities, corporations, partnerships, LLCs, trusts, and estates. A person holding an account that produces no taxable income can sometimes also be obligated to report it. How can you be sure you’re in compliance with all federal regulations related to FBAR?

FBAR Tax CPAs

If you have questions about the tax responsibilities associated with your foreign accounts or if you are already late in filing this year’s FBARs, contact Mildrid Esua CPA now. He understands the complex FBAR regulations and will fight hard to get tax penalties reduced and settle your tax debt with the IRS.

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Don’t try to fight the IRS alone! Our staff is bilingual and can assist you in English or Spanish.