IRS Offshore Voluntary Disclosure – A Guide to Common Questions & Answers

IRS Offshore Voluntary Disclosure is a general term used to describe the various methods for getting into FATCA and FBAR compliance for your foreign or offshore accounts, assets, investments, and income. What is IRS Offshore Voluntary Disclosure? IRS Offshore Voluntary Disclosure is a method for getting into compliance with reporting Foreign Accounts, Foreign Investments, Foreign Assets,…


A Summary of FATCA and FBAR – Golding & Golding

While FATCA (Foreign Account Tax Compliance Act) and FBAR (Report of Foreign Bank Accounts) have similar reporting requirements, they are not the same.   The failure to understand the nuances between these two programs may result in extremely high penalties — reaching 100% value of the foreign account in a willful, multi-year audit scenario. Why…