In addition to our domestic tax resolution specialties we provide in Boston and all of Massachusetts, we also specialize in international tax compliance services for Boston area taxpayers involved in offshore employment or investing. Whether you are a U.S. citizen involved in foreign tax matters, or a foreign citizen partaking in domestic U.S. employment, it's crucial that your tax filing remains updated and compliant.

Our team of international tax attorneys, accountants and CPAs are well-versed in the international tax codes associated with foreign nations, and have the ability to keep your offshore tax filing in compliance. Whether you are facing international tax problems and need help rectifying your tax reporting, or need help setting up your offshore tax filing for the first time, our team is available today to discuss your offshore tax matters.

FATA Filing

If you are a U.S. citizen in Massachusetts with offshore accounts (bank accounts, stock investments, etc) exceeding $50,000 in value, you may be required to file form 8938 with your tax return disclosing your assets. In addition, your FFI (foreign financial institution) may also be required to cooperate and disclose your account values, depending on the country. If you believe you are under FATCA filing requirements and need help maintaining your rectifying your FATCA reporting, our team of FATCA attorneys and CPAs can help.

FBAR Filing

If you are a U.S. citizen that owns any foreign financial accounts, such as bank accounts, brokerage accounts or mutual funds that exceed $10,000 in value, you may be required to file an FBAR (FinCen) form 114 with your tax returns. This is mandated by the U.S. Treasury to keep records of U.S. citizens with offshore accounts, and if you qualify, you must file this every April or face hefty penalties. If you need help clarifying FBAR requirements and setting up the proper filing measures, our international tax experts can help.

EXPAT Tax Compliance

Expatriate laws apply to any U.S. citizen that works on foreign soil, or any foreign citizen that works on U.S. soil. Just like domestic tax filings, the IRS requires Expat workers to report their income with the IRS, which is a different process than your typical tax return. If you are a Boston area resident under Expatriate working status, our team of Expat tax experts can help you maintain healthy compliance.

Offshore Voluntary Disclosure Program (OVDP)

The OVDP initiative was created the by the IRS to offer amnesty to U.S. citizens with delinquent offshore tax filing. Failing to report offshore accounts or interests can result in hefty penalties, but if you can prove that your delinquency was "non-willful", the IRS may grant you amnesty against penalties, as long as you take the immediate steps to cooperate and get back into compliance. To achieve this amnesty program, you must file certain forms to apply, and of course take the necessary steps to correct any delinquent FBAR and FATCA filings. All this can be arranged and filed by our team of Boston international tax experts. To see if you qualify for the OVDP, contact us today to get more information.

If you are a Massachusetts resident facing international tax issues, our team can help resolve any offshore tax problems and offer the proper consulting to keep you in compliance. Contact our firm today for a free consultation with our President, Tim Halcomb.