WALLINGFORD, Conn., March 28, 2016 /PRNewswire/ -- IRSMedic is pleased to announce their new case studies page which outlines client wins and updated FBAR, FATCA, OVDP rules and regulations.
The website's new page reviews several case wins including a client who was an ex-patriot living in Malta. Having unreported earnings abroad, he was advised by a 3rd party tax law firm to enter into the full Offshore Voluntary Disclosure Program (OVDP) and pay the requisite 27.5% offshore penalty. According to the website, had he went forward with their advice, it would have cost him $15 Million dollars.
Seeking a second opinion, he consulted IRSMedic. After extensive research, their FBAR lawyers found favorable disclosure procedures that in the end only had the client paying $900,000, says IRSMedic.
Another case study involves an American woman who had unreported bank accounts in Denmark and thus ended up with a FBAR problem. She talked with IRSMedic in 2012, and they recommended an opt-out of the full OVDP program.
Passing on their advice, she decided instead to hire a New York tax attorney. Two years later, IRSMedic heard from her again. She reported that her tax attorney advised her to pay $350,000 in an offshore penalty. Feeling despondent, she hired IRSMedic to move forward with the FBAR opt-out audit.
In the end, the IRS agreed to assess no FBAR penalty at all. She simply received an FBAR warning letter after paying a rather modest tax bill, says the website.
IRSMedic attributes their success to the fact that they house an accounting and tax preparation division built into a single law firm. This expedites processes for clients that are usually forced to work with 2 separate firms to cover both avenues of the tax fighting process.
IRSMedic employees a team of 25 seasoned IRS experts, and have helped tax fighters in over 50 countries.
To learn more, please visit: https://www.irsmedic.com/
IRSMedic is a tax fighting company that specializes in helping individuals and businesses resolve IRS related issues ranging from tax debt settlements, offshore disclosures, FBAR Penalties, FATCA issues, payroll tax issues, tax audits, and large tax debt workouts.
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