The IRS is currently screening and tracking overseas credit card holders, offshore bank accounts, overseas trusts, and international companies for tax evasion and transfer reports. However, there are ways to prevent criminal prosecution by the IRS during a foreign tax audit or a foreign tax audit.
There are an unlimited number of legitimate defenses that are highly effective in combating harsh government penalties and crimes, each of which depends on the facts and circumstances of each taxpayer. You can now look for the best Orange County IRS tax attorney for help.
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An aggressive attitude towards the IRS and a thorough understanding of the rules of foreign-controlled foreign companies, passive foreign investment companies, and offshore holding companies are needed to win audits and significantly reduce the taxes payable.
Careful audit planning and a thorough understanding of the problem areas are necessary to address the IRS during an offshore tax audit. The rules for controlled foreign companies, passive foreign investment companies, and foreign holding companies are complex and drafted by Congress on behalf of the IRS.
A thorough understanding of these loopholes and complications in tax law is required. Therefore, it's a good idea to hire a tax attorney if you are facing an offshore tax audit or an offshore tax audit.