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Archive by Month: February 2017

The Rules For Offshore Bank Accounts

Posted in Offshore Account Update on February 24, 2017

If you have any type of investments or financial products offshore, you must understand the rules for reporting those accounts and for paying taxes on investment income. A Virginia tax law firm can assist you in complying with the legal requirements for your accounts. If you have failed to comply in the past with reporting and tax requirements, an attorney can also help you to determine what options you have to minimize the possibility of penalties as the IRS becomes more aggressive at identifying offshore funds.

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