Remember, many advisory firms offer services,
but the difference is that Lance Wallach wrote the books on insurance as well as
financial information that the other consultants learned from!
Lance Wallach Writes CPE Books for the AICPA, Bisk Education and teaches courses for Lawline etc.
If you want to sleep soundly at night, don't go to the students for your financial problems, go to
the one who teaches them - Lance Wallach!
Who qualifies for OVDP?
The offshore voluntary disclosure program is designed for NRI taxpayers who earn income from overseas while living in the US, and have not previously reported this income.
How to file OVDP or Streamlined OVDP?
Filing OVDP or streamlined OVDP is a complex task. It may include filing amended returns. Taxpayers are usually required to file 6 years of FBAR. A signed certificate stating full disclosure is also required.
Benefit to filing now vs after the window closes?
There is significant risk in filing undisclosed overseas assets after the OVDP window closes. Penalties include 27.5% of each bank account balance as well as other fines. The IRS can also request tax records going back several years. Criminal prosecution is a risk, as well having your passport revokedType your paragraph here.
How We Do It:
As a member of the group we will try to perform four services for you that are designed to
resolve your tax problem, once and for all.
1. The Evaluation
The first step is to conduct a thorough evaluation of all your facts and circumstances. We examine your history with the IRS and the
details of your financial situation. We collect the information we need from you through two questionnaires. we also obtain your
Individual Master file records from the IRS. The information allows us to perform a complete analysis of the options that are available
to get this problem solved once and for all.After we review all your information,we determine which of various settlement options is
going to work for you. There are as many as ten major settlement options (and some variations on those ten) that might
work to fix your problem.
For example, when we are finished with your evaluation, we will know . . .
Which Tax Amnesty program is best for you,
-When your collection statute of limitations expires,
-If you can settle with the IRS for less than you owe,
-If penalty cancellation is possible for you, and
-The best course of action for your situation.
Because the evaluation process tells us which of those will work for you, you will never spend valuable time and resources chasing a strategy that will not work.
2. The Written Plan
Once your facts are analyzed and the evaluation is complete, I then lay out a very detailed, written step-by-step plan of action. This allows us to transform your large, seemingly insurmountable problem into a series of smaller, more manageable steps. By following the step-by-step formula for dealing with your case, we are able to work through your problem systematically, all the while making steady progress toward a solution. By following my unique step-by-step formula, we are able to make inroads toward a solution almost immediately.
3. Drafting Correspondence
We will draft critical correspondence to the IRS on your behalf. Through this service, all of your immediate collection problems are addressed in a timely and professional manner. You may be faced with collection notices right now. They can’t be ignored. They must be dealt with immediately and correctly. If not, you face the prospect of losing important taxpayers’ rights.
We will draft all correspondence on your behalf that’s necessary to:
Respond to collection notices,
-Submit a request for an installment agreement,
-Seek a collection freeze,
-Protest audit determinations,
-Protest collection actions,
-Appeal an installment agreement rejection,
-Respond to demands that you file delinquent tax returns,
-Submit a lien appeal,
-Submit a wage levy appeal,
-Submit a bank levy appeal.
As you know, IRS demand notices just keep coming. There is always something to respond to and if you don’t, IRS collection action spins out of control and your financial life is fraught with barriers, hardships and sometimes even dead-ends. We can bring all of this under control and, more often than not, we can do so very quickly.
4. Direct Telephone Access
During the entire period of your membership, you have direct telephone access to us as often as you need it. Anytime you have a question, problem or concern, call our office and make an appointment to speak with one of us. You’ll get a specific day and time to call. We will then walk you right through what needs to be done to handle that issue immediately. For example, you can speak with us when . . .You receive an IRS notice and need to respond, The IRS has made a request that you don’t understand, The IRS contacts your employer about a wage levy, Your bank notifies you that your account has been frozen, or You have a question about any aspect of your case or the plan that I develop for you.
These are the topics we CAN help you address via email or phone:
Tactics and strategies for dealing with the auditor; how to prove deductions and verify income and how to appeal audit decisions.
The time and place of appeal, how to write appeal letters and the strategies needed to win on appeal.
How to respond to computer audit notices, collection notices, missing tax return claims, etc.
How to cancel computer penalty notices, how to deal with penalties in audits and appeals and other general penalty questions.
If you owe taxes you cannot pay or IRS is demanding you pay taxes you do not owe, we can address all those concerns. This includes questions and problems about tax liens, levies and seizures, installment payment negotiations and all other aspects of tax collection, including what to do if you cannot pay by April 15. We can also answer questions about the IRS's tax amnesty programs and how they work
Our Services Also Include
-Evidence Review and Forensic Analysis
-Complaint, Petition, and Response Preparation Assistance
-Expert Declarations and Affidavits
-Exhibits for Settlement Conference, Mediation, and Trial
-Active Litigation: Rebuttal Witness
-Deposition, Arbitration, and Trial Testimony
-Pension & Benefit Plan Fraud
-Insurance Company Fraud
-419 & 412 plan defense
-Employee benefit plan audits/penalty resolution
-IRS Audit assistance
-Plan reviews, evaluations & remediation
-Expert Witness testimony
-Research & Analysis of Tax Laws
-Providing Guidance for Businesses, Attorneys, CPAs & Insurance professionals nationwide
-Stock market, Mutual fund & Insurance loss recovery
-Retirement Plan Lawsuit