Zurich Life Insurance Company
Former IRS lawyers successfully assisting Zurich Life Insurance Company account holders with IRS Voluntary Disclosure, Foreign Accounts Tax Compliance Act (FATCA) letters, Offshore Voluntary Disclosure Program (OVDP), Streamlined Offshore Disclosure Program and other Foreign Bank Account Reporting (FBAR) matters.
YOUR OFFSHORE ACCOUNTS MAY BE FROZEN: HERE’S WHAT YOU NEED TO KNOW
Since July 1, 2014, FATCA legislation has led the U.S. government to crack down on offshore tax evasion and fraud. This means that U.S. taxpayers are now required to disclose any offshore accounts with their yearly tax filing. Additionally, foreign financial institutions must also report any accounts of potential U.S. taxpayers to the government, so that the government can conduct an investigation into the taxpayer’s compliance.
If you’ve received a letter from the government or insurance company, there’s a chance that your assets have already been frozen or cancelled. At this point, you’ll need to prove that you have complied with FATCA regulations in order to retain your assets. In addition, if the FATCA letter came from the Internal Revenue Service (IRS) or the U.S. Department of Justice (DOJ), it is very important that you reach out to a tax lawyer right away because a severe civil or criminal investigation has already been opened into your account. Our team is comprised of former IRS attorneys who know exactly how serious FATCA letters can be. We can take on your case quickly and discretely to resolve the matter as swiftly as possible.
SUCCESSFULLY RESOLVING FOREIGN BANK ACCOUNT ISSUES FOR ZURICH LIFE INSURANCE COMPANY CLIENTS
According to FATCA regulation, taxpayers with more than $50,000 worth of foreign financial assets must disclose said assets on Form 8938, Statement of Specified Foreign Financial Assets, and submit it with the federal income tax return. Failure to properly disclose an account could lead to financial penalties.
The government requires all of the following accounts to be disclosed:
- Foreign Bank Accounts
- Foreign Savings Accounts
- Foreign Business and/or Corporate Accounts,
- Foreign Investment Accounts
- Foreign Retirement Plans
- Foreign Securities Accounts
- Foreign Mutual Funds
- Foreign Trusts
- Foreign Insurance Policies
- Foreign Accounts Held in a Controlled Foreign Corporation (CFC)
- Foreign Accounts Held in a Passive Foreign Investment Company (PFIC)
If the government believes that your failure to fully disclose information on your offshore accounts was willful, they may launch a criminal investigation. These investigations typically result in steep fines and prison sentences.
We know exactly what challenges you are facing and are here to help. We are former IRS lawyers, which means we have first-hand experience with the agency, how it conducts investigations and what is really required for compliance. Our job is to get the IRS off your back quickly and discretely so you can avoid penalties and becoming the target of a criminal tax investigation. We have saved clients millions of dollars and helped them avoid criminal tax penalties. We will do the same for you.
OUR TAX ATTORNEYS UNDERSTAND YOUR SITUATION & PROTECT YOUR RIGHTS
We understand how overwhelming it may be to face the government on your own. Luckily, there’s no need. Our firm has helped more than 500 clients become FATCA compliant, and we’re ready to do the same for you. Whether you already received a Zurich Life Insurance Company FATCA letter or would like to voluntarily disclose offshore account information, count on us to have your back and help you avoid penalties. For additional information or to get started on your case, call (202) 349-4033 or fill out our online contact form.