Three Solutions from Capital Protection Alliance Inc for Delinquent US Taxpayers to Comply with FATCA, FBAR and Other IRS Reporting Requirements
New York, NY, July 25, 2014 --(PR.com
)-- Capital Protection Alliance Path to Freedom
Capital Protection Alliance has expanded its Foreign Accounts Service Unit and now provides online tools for individual taxpayers to book a free confidential phone consultation with a Senior CPA and Tax Advisor. New platform and additional resources will allow the firm to double the clients’ enrollment into Oversees Voluntary Disclosure Program (OVDP, formerly OVDI) and New Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer U.S. Taxpayers, as well as to see 35% volume increase in delinquent tax and informational filings such as Form 3520: Annual Return to Report Transactions with Foreign Trusts and Receipt of certain foreign Gifts, Form 5471: Information Return of U.S. Persons with Respect to Certain Foreign Corporations, and Form 8865: Return of U.S. Persons with Respect to Certain Foreign Partnerships.
Foreign Accounts Service Unit will continue preparing annual foreign bank account reporting, such as Forms 8938 (FATCA), FBAR (TD F 90-22.1), expatriate tax returns, and provide bitcoin advisory. Capital Protection Alliance reminds that to claim the foreign earned income exclusion, the foreign housing exclusion, the foreign housing deduction, or foreign tax credit, a taxpayer must file US income tax return.
Capital Protection Alliance - Path to Freedom Initiative
“Since Capital Protection Alliance started providing expat tax services and assisting with foreign bank accounts disclosure, we saved the taxpayers over $10 million in various IRS penalties,” said Maurina Smith, VP of Client Services at Capital Protection Alliance. “Through a relentless focus on a taxpayer advocacy and our unique business model, we are now able to solve complex IRS tax problems and give a peace of mind to a wider community of taxpayers with foreign undisclosed accounts.”
Capital Protection Alliance encourages all taxpayers with delinquent foreign accounts reporting to join a voluntary disclosure program and avoid the risk of detection by the IRS and the imposition of substantial penalties, including the fraud penalty and foreign information return penalties, and an increased risk of the IRS criminal prosecution.
Capital Protection Alliance warns, that US Treasury is engaged with more than 80 foreign country jurisdictions to improve international information reporting under the Foreign Account Tax Compliance Act (FATCA) and Report of Foreign Bank and Financial Accounts (“FBAR”).
About Path to Freedom Initiative by Capital Protection Alliance
Capital Protection Analysis delivers comprehensive taxpayer’s case analysis, a tailored set of sophisticated recommendations, and the IRS case resolution. New Streamlined Filing Compliance Procedures for Non-Resident, Non-Filer U.S. Taxpayers is specifically designed for the individuals who recently became aware of their filing obligations and owe a little tax. On the other hand, Oversees Voluntary Disclosure Program (OVDP, formerly known as OVDI) offers protection from the IRS criminal prosecution and reduction in penalties. If there are no under-reported tax liabilities, Capital Protection Alliance can expedite all delinquent informational and tax filings, resulting in the IRS penalties prevention.
About Capital Protection Alliance
Capital Protection Alliance Inc. is a New York based, leading boutique CPA firm specializing in TAX planning, tax preparation, tax resolution services, and the IRS audit help. Our Company helps to navigate the complexities of tax laws and use it to the advantage of the individuals, families, start-ups, privately held companies, real estate investors, and trusts located in the US and in more than 50 countries around the globe.
Capital Protection Alliance has a unique business model that is revolutionizing how taxpayers are served. We moved away from billable hours metric and focus on delivering high-quality advisory services that taxpayers deserve and value. With an enduring commitment, we utilize our technical competence and vast experience to protect our clients’ capital and bring them a piece of mind. Capital Protection Alliance frees the clients to focus on their businesses and things they love.
For more information, visit Capital Protection Alliance at www.CapitalProtectionAlliance.com