201812.31
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IRS International Tax Form Guide (2019) – 5 IRS Forms You Should Know

IRS International Tax Form Guide (2019) – 5 IRS Forms You Should Know With 2018 over, you may be getting ready to begin the process of filing your 2018 tax returns. Aside from all the recent domestic tax reform changes your CPA keeps talking about, there is the issue of reporting your international foreign/offshore accounts,…

201812.15
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The Court Further Clarifies Multi-Year Penalties for Missed FBAR

The Never-Ending Saga of FBARs and IRS Penalties for FBAR Another day and another case involving FBAR penalties, compliance, and enforcement.   The best image I can try to provide for you regarding the current state of FBAR penalty enforcement would be the scene from National Lampoon’s European Vacation when Clark Griswold and family circle around…

201812.09
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Is it Illegal to Purchase Offshore Assets or Move Money Overseas?

Is it Illegal to Purchase Offshore Assets or Move Money Overseas? The word “offshore” usually conjures up an image of yourself sitting across from a well-dressed banker in Switzerland. On your lap sits a suitcase filled with cash (of legally withdrawn money) that you traveled with to UBS (because you’ve seen way too many spy movies). As…

201812.03
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Swiss Bankers Get Probation…After Cooperating with US Prosecutors

Swiss Bankers Get Probation…After Cooperating with US Prosecutors In a recent case (11/2018), a Manhattan Federal Court Judge sentenced two Swiss Bankers that defrauded the IRS with probation. While that’s great for them…how many names did they have to give up to the IRS? Your Swiss Accounts are Neither Confidential Nor Secret Sure, maybe 30-years…