Posts in FATCA Reporting (10 Key Facts about FATCA for Individuals)

All About Foreign Information Tax Returns & IRS Penalty Basics

All About Foreign Information Tax Returns & IRS Penalty Basics

  Everything About IRS Foreign Information Tax Return Penalties  Each year, millions of U.S. taxpayers worldwide are required to report their foreign accounts, assets, and investments to the IRS and the U.S. government on various international information reporting or ‘foreign information’ IRS returns. There are many […]
by International Tax Lawyers
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Everything About FBAR Penalties You Must Know

Everything About FBAR Penalties You Should Know (Examples)

FBAR Penalty Overview When reporting foreign accounts, assets, and investments to the IRS, the most common international information reporting form that most taxpayers may have to file is the FBAR (aka FinCEN Form 114).  Unlike other international reporting forms taxpayers have to file, this form is […]
by International Tax Lawyers
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Board-Certified Tax Law Specialist

What is a Board-Certified Tax Law Specialist (How to Spot a Fake)

  Board-Certified Tax Law Specialist Summary When an Attorney refers to themselves as a Tax Law Specialist, it does not mean they are ‘board-certified’ in Tax. The term “specialist”, when it comes to tax, connotes that a person handles that specific area of tax exclusively; in […]
by International Tax Lawyers
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Understanding FBAR vs FATCA: What are the Key Differences?

Comparing FBAR vs. FATCA (2026): Key Differences Explained

    FBAR & FATCA  When it comes to international tax and reporting compliance, two of the most common acronyms you will come across in your research quest are FBAR (Foreign Bank and Financial Account Reporting, aka FinCEN Form 114) and FATCA (Foreign Account Tax Compliance […]
by International Tax Lawyers
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Recklessness FBAR Noncompliance Leads to Willful Penalty

Recklessness FBAR Noncompliance Leads to Willful Penalty 2026

Reckless FBAR Explained One very common misconception about foreign bank and financial account (FBAR) penalties is that to become subject to IRS willful penalties, the taxpayer must have acted intentionally — but that is incorrect. In some instances, even if the taxpayer does not act with […]
by International Tax Lawyers
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