Alexandria Streamlined Domestic Offshore Procedure Lawyer

Claire Sanderson

John and his team were very professional and responded to my questions and provided guidance quickly.

Prince Mampouya

I had an exceptional experience working with John Pontius and his team. Within minutes of submitting a consultation request through their website, I received a feedback from Gigi (Executive Assistant) at his office for a seamless preliminary intake. The following day, I spoke directly with John, who was not only incredibly friendly but also remarkably knowledgeable. He broke down a complex situation into clear, actionable options and thoroughly answered every single question I had. If you need expert guidance and prompt, high-touch service, I highly recommend John Pontius.

Alex Kaufman

Incredibly helpful and easy to get a free consult. Recommend

South Carolina Ave

We had a very positive experience working with Pontius Tax Law. John and his team were very knowledgeable, responsive, courteous and professional. I would definitely recommend them.

KER

I called John frantically after discovering an error on my taxes that spanned a few years. He called me back and was patient, kind, and exceptionally competent in helping me fix my situation, as was Dana on his team. I’m deeply grateful for their help and would not hesitate to recommend them for any sort of tax issue. Thank you again!

walt winston

I would highly recommend Pontius Tax Law for anyone navigating complex tax issues. From the very first consultation, it was clear that I was in the hands of true professionals who actually care. In fact, they actually care—and that makes all the difference when you are dealing with the stress of tax law. I would especially like to thank Dana. She was absolutely instrumental in managing my case. Dana is incredibly diligent, responsive, and possesses a deep understanding of the internal workings of the IRS. She kept me informed and managed each step of the process with total professionalism. What I appreciated most was how she patiently awaited my responses and the various documents she required. Because of my disability, my responsiveness was sometimes delayed, but Dana remained patient and accommodating throughout. I want to thank both Dana and John tremendously. They are worth every penny, not only for the peace of mind they provide but for their actual accomplishments in what is a very high-stakes process. Sincerely, Walt Winston

Mike M

Called after hours and was meeting with John and his team the next morning! Very professional group who's value to me was evident right away!

Mark Crick

Dealing with an issue from the IRS seemed like an overwhelming and impossible task until I was recommended to Pontius Tax Attorneys. They took me through my options without judging my situation, and worked out a plan that made sense for my family. Sarah was amazing!

Alexa Addison

John was incredibly helpful and informed. Within 5 minutes of requesting a consultation, I received a call from his office for a preliminary conversation. On the same day, I was able to speak with John Pontius who was super friendly. He was knowledgeable, clear, and incredibly helpful in breaking down my options. He answered every question thoroughly and made a complicated situation much easier to understand. Highly recommend.

James Levine

I must say it was a pleasure and delight to work with the firm. I was dealt with in a highly efficient manner by the paralegal team, and then I met with the senior partner. I have to say I was treated with absolute consideration for a difficult situation and with kindness and respect The charge structure is entirely appropriate for the level of skill. Highest recommendation

If you are a resident of Alexandria, VA and realized that you failed to report worldwide income or file required information returns, such as the FBAR, you may be eligible for a specific path to compliance. Pontius Tax Law focuses on providing a calm and professional environment to help you address these past omissions through the offshore disclosure process. If your failure to report was non-willful, an Alexandria streamlined domestic offshore procedure lawyer could help you navigate the administrative requirements to bring your filings up to date.

Our offshore disclosure attorney understands that many taxpayers unintentionally overlook the complex requirements of reporting assets held outside of the United States. We utilize a team that includes Enrolled Agents and former IRS Revenue Officers who determine the most effective way to resolve your tax debt. Because the IRS maintains strict reporting standards, moving forward with an administrative solution is often the best course of action. When you work with our firm, you benefit from attorney-client privilege.

Eligibility for the Streamlined Domestic Offshore Procedures

The Streamlined Domestic Offshore Procedures (SDOP) are designed specifically for taxpayers who reside in the United States but have failed to disclose foreign financial assets. To qualify for this streamlined domestic disclosure path as an Alexandria resident, you must meet several criteria. First, you must have previously filed a U.S. income tax return for each of the most recent 3 years for which the U.S. tax return due date has passed. Second, you must have failed to report gross income from a foreign financial asset and pay tax as required by U.S. law.

Finally, your failure to report must have resulted from non-willful conduct, which the IRS defines as conduct due to negligence, inadvertence, or mistake. If you do not reside in the United States, there is a similar procedure available to you as well.

We assist taxpayers by reviewing their previous filings to ensure they meet the eligibility requirements set forth by the IRS. A key component of this process involves the submission of IRS Form 14654, which is the Certification by U.S. Person Residing in the United States. This document requires a detailed explanation of the facts surrounding the failure to report. It is essential that this certification is completed accurately, as it serves as the foundation for your participation in the program.

Calculating the Miscellaneous Offshore Penalty

One of the defining features of the domestic version of the streamlined procedures is the miscellaneous offshore penalty. This penalty is equal to 5% of the highest aggregate balance of your foreign financial assets during the years covered by the disclosure. This includes assets that were required to be reported on an FBAR (FinCEN Form 114) or Form 8938 but were not properly disclosed. The 5% penalty is calculated based on the year-end balances and asset values. While this is a significant administrative requirement, it provides a clear and black-and-white path to resolving outstanding issues without the uncertainty of a full IRS audit.

For Alexandria taxpayers hoping to take advantage of the SDOP, our lawyer helps individuals calculate these figures by examining bank statements, investment accounts, and other financial records. In addition to the 5% penalty, taxpayers must pay any back taxes owed for the 3-year period, along with statutory interest.

It is important to note that the SDOP requirements do not include real estate that does not generate income, though other assets like overseas mutual funds and retirement plans are generally reportable. By properly disclosing these assets now, you could avoid more significant civil penalties if the IRS were to discover the accounts during a routine audit or through information shared by foreign banks under FATCA.

The Importance of Non-Willful Certification

The success of a streamlined submission hinges on the taxpayer’s ability to demonstrate their actions were non-willful. The IRS looks for “badges of fraud” or evidence of intent to evade taxes when evaluating these certifications. If the IRS determines that a taxpayer was willful, they would not be eligible for the SDOP program and might need to consider the Voluntary Disclosure Procedures instead. A professional evaluation of your conduct is necessary to ensure that you select the appropriate program to limit the penalties.

We review the history of your accounts and the reasons for the lack of disclosure. We understand that “intent” is a complex concept, and many taxpayers simply were not aware of the requirement to report worldwide income. Our Enrolled Agents and former IRS Revenue Officers know how to navigate the complexities of tax law and have first-hand experience working with and within the IRS. By presenting a clear and factual certification, the firm aims to move your case through the administrative process as smoothly as possible.

Contact an Alexandria Attorney to Discuss the Streamlined Domestic Offshore Procedure

Disclosing late, or underreporting income from foreign sources is a serious matter, but it can be resolved through the proper administrative channels. We are dedicated to helping you achieve compliance while maintaining a calm and focused approach. If you have concerns about your foreign accounts, an Alexandria streamlined domestic offshore procedure lawyer could provide the guidance necessary to file your amended returns and FBARs correctly.

Our goal is to help you resolve your controversy with the IRS by providing the information they require in a professional manner. We work with individuals to address their financial assets and ensure all worldwide income is properly reported. Please contact us today to discuss how our tax attorney can assist you in resolving your concerns.