Skilled Guidance on International Tax

Compliance with foreign account reporting requirements has become more and more difficult in recent years. And if you have fallen out of compliance, you may still have difficult choices to make about whether to participate in one of the IRS’s limited amnesty programs.

At Frost Law, we have the skills in international tax matters to guide you confidently forward in this new offshore era. Based in the Washington, D.C. area, we assist clients throughout the world.

Give us a call today to discuss your specific situation in an initial consultation.

Which Foreign Tax Issues Do You Need To Address?

The U.S. government’s taxation powers have grown far beyond our country’s borders. Our firm serves a diverse clientele in Washington, D.C., Maryland and Northern Virginia, and those with corporate interests in other countries.

Our practice includes:

• International estate planning — Cross-border tax issues can make estate planning complicated for families with ties both in the U.S. and abroad. Our attorneys can guide you confidently in pursuing your goals.
• FATCA compliance — Implementation of the Foreign Account Tax Compliance Act has made foreign tax compliance much more difficult. FATCA will require financial institutions to collect information on the beneficial owners of accounts and will also require these financial intuitions to withhold U.S. taxes on earnings from selected accounts. We will help you navigate through these new rules.
• Voluntary disclosure programs — Taxpayers who have noncompliant foreign accounts and unreported foreign income can still apply for “tax amnesty” through the IRS Offshore Voluntary Disclosure Program (“OVDP”). Taxpayers may also be eligible for other programs such as the Streamlined Offshore Procedures and the Delinquent Filing Submission Procedures. Our firm can explain your options on voluntary disclosure of offshore accounts and take the steps that suit your interests.

We can assist with foreign bank account issues, get you in compliance with your FBAR filing obligations, and minimize the chance of any criminal investigation or imposition of severe civil penalties. It is important that you hire an experienced tax attorney to navigate the complex rules, to protect you from criminal prosecution, and to minimize the financial impact of paying penalties and taxes.

Our firm also assists in responses to inquires from the Office of Foreign Asset Control (OFAC) and matters involving Specially Designated Nationals (SDN).

Our Experience Also Includes

1) Passive Foreign Investment Company “PFIC” Reporting (Form 8621)

a) Section 1291

b) Mark-to-Market

c) Qualified Electing Fund (QEF) Election

2) Statement of Specified Foreign Financial Assets (Form 8938)

3) U.S. Information Return for Beneficiaries of Certain Canadian Registered Retirement Plans (Form 8891)

4) Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts (Form 3520)

5) Information Return of U.S. Persons With Respect To Certain Foreign Corporations (Form 5471)

6) International Boycott Report, (Form 5713)

7) Information Return of a 25 percent Foreign-Owned U.S. Corporation (Form 5472)

You can depend on our experienced law firm to protect your rights during any IRS tax litigation that could arise.

Every Tax Problem Has a Solution —
Contact Frost Law To Find Yours

Schedule your initial consultation with Washington, D.C., international tax attorney Glen Frost (Tax Attorney, CPA, CFP® and LLM in taxation). Contact us. Call Frost Law at 202-618-1873 to secure your consultation with a skilled lawyer.