Our Attorneys Protect Our Clients’ Finances And Assets Throughout Their Estate Planning And Tax Law Issues

Do I need to report foreign bank and investment accounts to the IRS?

Yes. If you have a financial interest in or signature authority over one or more foreign bank and investment accounts with an aggregate value of over $10,000 on any day during the calendar year, you are required to file an FBAR (FinCEN Form 114). You may also need to file Form 8938 (FATCA reporting) with your U.S. tax return. Failure to do so can result in significant civil or even criminal penalties, so early legal guidance is essential. We help clients identify reportable accounts and ensure every required form is filed accurately and on time.

I live part of the year in another state or country. Where do I pay taxes?

It depends on where you are legally “domiciled.” Different states and countries have different residency rules, and being taxed in multiple jurisdictions can be costly. We help clients clarify their primary tax home and prepare the documentation needed to support their position if challenged. Our advice helps avoid double taxation and potential audits, especially for snowbirds, digital nomads, and international retirees.

What are the penalties for not reporting offshore accounts or income?

Penalties can be severe — including up to $10,000 per violation for non-willful FBAR infractions, and much more for willful failures. Criminal charges are also possible in egregious cases. We help clients come into compliance through voluntary disclosure programs that may significantly reduce penalties and avoid prosecution. Our team provides confidential reviews of your situation and develops a safe, IRS-compliant path forward.

Is international tax planning only for high-net-worth individuals?

Not at all. Whether you have a modest income from abroad, a rental property overseas, or just opened a foreign bank account, international tax issues can affect you. Our firm works with clients at every income level to ensure compliance and help them make informed decisions about their global financial footprint. We believe that clear, accessible legal guidance should be available to everyone—not just the wealthy.