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 […]
Do You Have Foreign Accounts or Assets: 2025 FBAR Review U.S. Taxpayers who have foreign accounts, assets, and investments may have several international reporting forms to file each year in addition to filing their IRS Form 1040. While there are many different international reporting forms that […]
Crucial IRS Foreign Information Returns for U.S. Tax Filers  U.S. taxpayers who have foreign accounts, assets, investments, income, etc., may be required to file several IRS foreign information returns each year to disclose their offshore account and asset information to the IRS and FinCEN. There are […]
  Overview of New Immigrant U.S. Tax Rules  When foreigners first move to the United States or otherwise become U.S. persons for tax purposes, learning how to file their U.S. tax returns is not usually their main concern – especially since filing taxes in most foreign […]
Checking ‘No’ on Schedule B with FBAR Filed = No Problem Schedule B, Form 1040, is an IRS tax form primarily used by taxpayers who earn a significant amount of interest and dividends, requiring them to break down the amount of interest and dividends from each institution on the form. […]