201801.31
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IRS Criminal Tax (2018) – Offshore Income, Accounts & Asset Penalties

IRS Criminal Tax (2018) – Offshore Income, Accounts & Asset Penalties Technically, there is no such thing as an IRS Criminal Audit. The reason is because IRS audits are civil in nature. In other words, the IRS cannot try to violate your right to freedom by pursuing a criminal audit within a civil arena. IRS Criminal Tax It…

201801.29
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IRS Offshore Audit (2018) – FBAR, FATCA, 5471, 8621, 8865 & PFIC

IRS Offshore Audit (2018) – FBAR, FATCA, 5471, 8621, 8865 & PFIC An IRS Offshore Audit is a general term to describe the situation in which a person is being audited by the IRS regarding Offshore/Foreign accounts, investments, assets, and income. Typically, the most common international informational forms the IRS likes to audit  (due to the…

201801.28
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Undeclared Foreign Income (2018) – IRS Worldwide Income | U.S. Taxes

Undeclared Foreign Income (2018) – IRS Worldwide Income | U.S. Taxes Undeclared Foreign Income usually comes in the form of Foreign Investment income, such as Foreign Bank Interest, Dividends, Capital Gains or Rents. Oftentimes, when a person does not report the income on their U.S. Tax Return, it is because they did so unintentionally. In other…

201801.27
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The IRS Can Take Your Passport For Serious Tax Debt (2018)

The IRS Can Take Your Passport For Serious Tax Debt (2018) Starting in 2018, it appears that the IRS is going to begin enforcement of the IRS passport revocation for individuals with serious tax debt. It should be noted  that as of the writing of this article, the IRS has indicated that it has not begin…

201801.25
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Non-Willful FBAR Penalties (2018) – Foreign Account Amnesty Tips

Non-Willful FBAR Penalties (2018) – Foreign Account Amnesty Tips The FBAR is the Report of Foreign Bank and Financial Account Form (FinCEN 114). As far as international tax law forms go, it is not the most complicated form. The biggest issue with the FBAR is the extent that the IRS will go to issue penalties even…