The US Treasury is Aiming to Lower the Foreign Account Tax Compliance Act; Ideal Tax Solution Broadens its Tax Programs to Help Americans with Complex Tax Problems

Share Article

News in the tax world opens up more possibilities for tax resolution companies to provide more programs to assist complex tax cases. Ideal Tax Solution is amongst these companies broadening their horizons to assists all Americans tax problems.

News Image

Ideal Tax Solution

Tax resolution companies, like Ideal Tax Solution, are broadening their services to assist Americans with more complex tax issues

The US Treasury discussed a few months ago, possibly working with the FATCA (Foreign Account Tax Compliance Act) to lower the standards on it. FATCA is essentially the policy that monitors the income of overseas business to and from the United States. The act was conjured by congress in March of 2010 and its purpose was to ensure that the US tax authorities get information on financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest, at foreign financial institutions (FFIs). Failure by an FFI to disclose information would result in an automatic 30% wage garnishment. “New York State Bar Association Annual Meeting, Acting Assistant Secretary for Tax Policy, Emily McMahon, indicated that regulations for the implementation of the provisions of the Foreign Account Tax Compliance Act (FATCA) are in the final stages of clearance at the United States Treasury and the Internal Revenue Service (IRS).”

Sometimes, taxes and tax regulations can get a little complicated. With things like FATCA, it’s obvious that tax paying is not always just entering your W2 online and receiving a return. Tax resolution companies, like Ideal Tax Solution, are broadening their services to assist Americans with more complex tax issues, like those involved in foreign exchange. Working with tax resolution companies is the most quick and painless way to resolve tax issues. Businesses working with overseas income will soon have better opportunities to seek assistance with issues accrued during these transactions. FATCA aside, keep an eye out for more upcoming news on new tax resolution programs being released.

About the company: Ideal Tax Solution, LLC is located in Costa Mesa, CA and provides tax negotiation services, preparation and is a collection defense specialist. Their Tax Attorneys, IRS Enrolled Agents, CPA’s, Senior Tax Consultants have over 55 years of combined experience working to help American tax payers with the IRS and State Tax Agencies. Ideal Tax boasts an "A" rating with the Better Business Bureau earned through providing excellent services.


Share article on social media or email:

View article via:

Pdf Print

Contact Author

Chyna Lamb
Visit website