Navigating international tax reporting can be complex and time-consuming. At Next Level Tax in Carrollton, Texas, we provide complete FATCA and FBAR compliance services to ensure that your foreign financial accounts and assets are properly reported to the IRS and the U.S. Treasury — minimizing penalties and ensuring full legal compliance.
If you hold financial accounts outside the United States and the total value exceeds $10,000 at any time during the year, you must file an FBAR (FinCEN Form 114) under the Bank Secrecy Act.
Our team helps you identify qualifying accounts, gather required documentation, and file electronically with the Treasury Department.
We assist with:
Determining your FBAR filing requirements
Preparing and submitting FinCEN Form 114 accurately
Avoiding costly non-compliance penalties starting from $10,000
Maintaining recordkeeping and audit readiness
Under FATCA, U.S. taxpayers with specified foreign financial assets exceeding certain thresholds must report these holdings using IRS Form 8938. Next Level Tax ensures full FATCA compliance for individuals, joint filers, and taxpayers residing abroad.
Our FATCA services include:
Assessing your reporting obligations under IRS guidelines
Filing Form 8938 with accuracy and confidentiality
Coordinating with foreign financial institutions as required
Managing compliance for both individuals and business entities
U.S. citizens or residents who own more than 10% in a foreign corporation must file specific IRS forms under sections 6038 and 6046.
We help prepare and file these reports, protecting you from penalties of up to $50,000 per unreported transaction and ensuring compliance with all corporate disclosure requirements.
If you have previously unreported foreign assets, we can help you get back into compliance with IRS-approved programs, including:
Offshore Voluntary Disclosure Program (OVDP) — for those facing potential civil or criminal penalties.
Streamlined Filing Compliance Procedures — for taxpayers whose failure to file was non-willful.
Delinquent FBAR Submissions — for those who missed previous filings but are not under IRS examination.
Proven experience in international tax compliance and foreign asset reporting
In-depth understanding of IRS and FinCEN filing requirements
Secure, confidential filing process
Personalized assistance tailored to your residency status and financial profile
Ensure peace of mind with professional FATCA and FBAR compliance services from Next Level Tax — helping you avoid penalties and maintain full IRS compliance.