FBAR Filing Solution Offered By Sanjiv Gupta CPA Firm

In spite of major reporting in national newspaper, television and radio, an average US citizen or resident is still unaware of the foreign bank account reporting requirement by the US law.   San Francisco Bay Area’s popular CPAs and California society of CPAs has tried their level best to educate the residents about this law.

In order to make it easier for an average resident to understand the FBAR, Sanjiv Gupta  the founder of a CPA firm San Francisco gave many interviews to local radio and television shows.   This awareness has brought special attention to Indian community living in United States and having business affairs in India.   FBAR filing is required for any one with balance of $10,000 or more in foreign accounts.   Funds could be in one account or in more than one account as long as the total of funds is more than $10,000 than you are required to file the FBAR.

Sunnyvale Certified Public Accountant opened a new office to deal with the growing demand of FBAR filing.  Residents of Sunnyvale, San Jose, Cupertino and Santa Clara can now visit the Sunnyvale CPA office at 355 West Olive Ave # 108, Sunnyvale CA 94086.  You can also call 510-825-7563 to set up an appointment with Sanjiv Gupta CPA.

OVDI 2012 is also an important part of FBAR topic.  This is special scheme by the government that allows the delinquent FBAR filings and avoids the criminal penalties.  Moreover, OVDI allows residents and US citizens to take advantage of reduced penalties.  Office of Sanjiv Gupta Palo Alto CPA can help with proper filings of FBAR and OVDI.  However, it is a good idea to discuss your case in person with Sanjiv Gupta CPA to see if you are good candidate for the OVDI or should you continue to file FBAR.

We are living in the 21st century and many of us do global business and have assets in foreign countries. Sanjiv Gupta CPA firm specialize in International Tax Planning.   You can learn the proper way of transferring funds from India to US or from US to India.  Proper planning can help you avoid penalties and tax complications in future.  

You can reach Sanjiv’s office by calling 510-825-7563 or visit home online at http://sanjivcpa.com/company/about-us/