If you have any Financial Assets or Bank account in any other country then US..STOP… FATCA/FBAR Laws may apply to you.
If you walk into most tax preparation office in Jersey City and ask them about FATCA tax filing expertise, you are likely to hear “wait a minute” while the they research FATCA/FBAR Filing. In many cases the tax preparation team will be inexperienced in handling FATCA tax filing in Jersey City. Unfortunately, for the tax payor, ignorance of the law does not release from complying with the law. The IRS has very strict guidelines for reporting foreign bank account activities.
Your Liability
Ultimately if you use a Tax Expert/service which is not familiar with the FBAR and FATCA regulations and compliance needs, the consequences of not complying, will draw unwanted attention from the IRS and can cause you heavy penalties. The IRS does not hold the tax experts/preparers responsible for Failure to file, they hold you responsible for it. You will be held responsible and potentially may result in civil penalties, criminal penalties or both.
It Can Be Simple
There are tax experts that file hundreds of FATCA Tax filings every year, like WorkMyTaxes. WorkMyTaxes has simplified the process of FATCA which you can easily understand and can gather all needed information. The Tax team of WorkMyTaxes can answer your all questions regarding FBAR and FATCA. It does not matter whether you have Financial Assets in any currency, they will convert it to US dollars as per the IRS approved rates for the filing, provide you with advice and make sure your filing is error free. You do not have to leave your complicated Taxes as FATCA up to chance. WorkMyTaxes offers the kind of support that makes the process simple. WorkMyTaxes has:
- Expertise in FBAR and FATCA Filing
- Produces error free Tax Returns
- Can support you with advice for future dealings with the IRS
Getting the filing done that you need to have done does not have to be complicated, if you have the experienced support you need!
