As a multiyear past-due filer, the IRS will sometimes allow you to file for just the past three, five, or six years to catch up.
We bring you forward using the Streamlined Filing method or the reasonable cause disclosure to arrange penalties of 5% or zero. Should we deem your case requires the OVDP (Offshore Voluntary Disclosure Programme), we partner with lawyers who specialise in arranging the quick acceptance. To date, all but one case has been able to come forward without the OVDP and the penalties have been zero.
If the tax is too large or the penalties can not be waived, there are other methods we can use to reduce the final bill. These are, in order of ease:
- Offer In Compromise – offering to settle for less than the full amount.
- Tax Court – Bringing the matter to tax court.
We charge an hourly rate for waiver penalties with a cap/maximum so that you know what your total maximum bill will be. Should our time go in excess of the estimated maximum, you will not be charged for the excess time. Should our time be less than estimated, you will benefit from the difference.
Why Choose British American Tax?
- Prearranged calls to tax specialists accepted as late as 11 p.m. GMT.
- Streamlined Programme and reasonable cause disclosure are the methods we will pursue before OVDP.
- If you already have an attorney, we work with your lawyer handling your case.
- Managing Director Liz Zitzow, E.A. has more than fifteen years of experience waiving penalties for late filers.
- Managing Director Liz Zitzow, E.A. has more than twentyfive years of US tax experience.
- One hour of free tax planning per year for all clients.
- Income tax planning inclusive of capital gains, primary residences, secondary homes, businesses, inheritance, gift, and trust tax planning to reduce the exit tax as much as possible.
- Tax planning for LGBT and other alternative lifestyles.
- Bespoke tax planning for inherited trusts.
- Fixed fee or ceiling fees so you know ahead of time the total bill you will receive.
- Accept payment in pounds, euros, or US dollars.
- Accept Paypal, credit card, cash, cheque, wire, and BACS.
- We work alongside your UK accountant to make the total tax between both countries as small as possible.
- We provide legal referrals for all the legal work you need.
- Our clients include famous people, economics professors, hedge fund managers, and a rocket scientist or two.
- US Enrolled Agents and CPAs.
If your other prospective US accountants do at least seven of these, you’re doing well. If they are handling less than seven, we do all of them. Call us.