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Combating tax fraud at the international level is among the Internal Revenue Service’s top priorities. The IRS’s Criminal Investigations division (IRS CI) is particularly active in this area, and it works with other tax enforcement authorities around the globe to identify, prosecute, and punish individuals and organizations suspected of engaging in fraudulent practices. As Maryland international tax attorneys, we have significant first-hand experience in this area, and we have successfully defended numerous clients in international tax fraud matters involving IRS CI.

If you are behind on your federal income taxes, you may be interested in negotiating a tax settlement. If you can get rid of your tax debt while also paying less than the full amount you owe, pursuing this option could give you a fresh start while relieving you of the burden of owing money to the federal government.

For U.S. taxpayers who live in Maryland and have funds stored in offshore accounts, federal tax law compliance involves more than simply filing your annual income tax returns. Among various other requirements, ownership of offshore accounts triggers a requirement to comply with the Foreign Account Tax Compliance Act (FATCA). Failure to comply with FATCA can have serious consequences; and, in order to avoid substantial tax penalties, U.S. taxpayers who have offshore accounts need to ensure FATCA compliance with the help of an experienced Maryland offshore tax attorney.

Many U.S. taxpayers are unaware that they have an obligation to disclose their offshore accounts to the Internal Revenue Service (IRS). Even if you do not owe any tax as a result of your foreign holdings, you must still report them, and failing to do so can lead to substantial liability.

The Internal Revenue Service (IRS) enforces taxpayers’ obligations whether they live in the United States or abroad, and whether they incur their federal income tax obligations in the U.S. or overseas. As a result, regardless of where you live, and regardless of where you hold your assets or earn your income, if you underreport or underpay your U.S. income tax there is a good chance that you will eventually be audited by the IRS.