GSRP Adds New Offshore Tax Compliance Practice Area

The world is shrinking. Overseas connections are expanding. Families are spread across countries and continents. Many people in the United States (and U.S. citizens living abroad) are beneficiaries of foreign trusts or estates, and even more seek to invest overseas.

These trends have not gone unnoticed. Congress, the Internal Revenue Service, and other governmental agencies are ramping up enforcement efforts and getting results. The IRS hired about 3,300 new agents and tax compliance officers in 2009-2010 alone!

The regulatory landscape has changed dramatically since passage of the Foreign Account Tax Compliance provisions of the HIRE Act of 2010 (“FATCA”). And in recent years, the IRS has offered two separate voluntary disclosure programs to U.S. persons who had failed to fully report foreign assets.

GSRP is a law firm with in-house senior accounting expertise and a robust offshore and domestic tax compliance practice. The boutique nature of our firm allows us to deliver highly-personalized services. Our clients in the U.S. and abroad are much more than just files. Our technical expertise and proven processes, which utilize the latest technology, enable us to provide services that are reasonably-priced and timely-delivered.