201906.17
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Post-OVDP Opt Out – IRS Increased Penalty Risk (5 Considerations)

Post-OVDP Opt Out – IRS Increased Penalty Risk (5 Considerations) Just because IRS OVDP ended, does not mean you lose the right to opt-out of an OVDP that was submitted, and accepted before OVDP was ended. But, you have to be careful. Post-OVDP Opt Out Recently, we have been contacted by multiple individuals and businesses…

201906.11
1

Is Your Tax Preparer Recommending Illegal IRS Offshore Reporting?

Is Your Tax Preparer Recommending Illegal IRS Offshore Reporting? In recent months, we have been contacted by several clients coming to us with the same IRS problem. They previously used a CPA, Attorney, or other tax professional who had failed to properly advise them on reporting foreign accounts, income, assets, or investments to the IRS….

201906.02
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Estates FBAR Filing – Overseas Assets | IRS Estate FBAR Filing

Estates FBAR Filing – Overseas Assets | IRS Estate FBAR Filing It is not uncommon for individuals with foreign accounts to be unaware that they were required to report foreign accounts, each year annually on a FinCEN Form 114 (FBAR) – in any year they met the FBAR reporting requirement. Do Estates File FBAR? So…