New Brunswick Foreign Bank Accounts Attorney

If you have a foreign bank account, you may be required to file annual reports with the IRS. The IRS is beginning to crack down more heavily on offshore bank accounts, and the consequences of failing to comply with the reporting laws can result in significant amounts of penalties.

My law firm, Ralph H. Kline, Esq., serves individuals throughout New Jersey with their tax and foreign bank account concerns. Contact my Kingston law office for help with your financial issues.

A Lawyer Helping With Your Foreign Financial Accounts

U.S. taxpayers are required to report foreign bank and financial accounts if the total balance of such accounts at any time during the year exceeds $10,000.00. The report is required to be filed as a separate return from the individual income tax return.

The U.S. government has begun to put pressure on various foreign governments which has resulted in the IRS receiving reports of foreign accounts owned by U.S. persons in various foreign banks. The penalties for failing to file the required reports can be substantial.

U.S. taxpayers who have failed to file the required returns need advice and knowledgeable representation. If you have questions regarding your offshore accounts, do not hesitate to consult with an experienced tax lawyer.

Want to Minimize Tax Penalties? Contact a Foreign Bank Accounts Attorney.

My law firm, Ralph H. Kline, Esq., is conveniently located in Kingston, New Jersey, and it offers you a friendly environment to discuss your foreign bank accounts and other tax issues.

Please feel free to contact me today at 609-921-6266 for a consultation in Middlesex County or throughout New Jersey.