High Net Worth Individual in Costa Rica

“I received what is called a “Soft Letter” from the IRS stating: “Our records indicate that you haven’t taken necessary action to remedy your non-compliance with U.S. reporting requirements relating to foreign income, foreign entities, or foreign financial accounts.” I became concerned and knew that I needed to take immediate action. Foodman CPAs & Advisors assisted me with submitting the proper narrative statement to the IRS as per the instructions of the “Soft Letter” regarding my options related to underreported foreign assets. The explanations provided by Foodman together with all the actions taken to become compliant were successful. I am finally able to sleep well at night!”

— High Net Worth Individual in Costa Rica