Risk of Hiring CPAs & Tax Resolution Firms for IRS Offshore Amnesty Oftentimes, tax problems arrive at your doorstep…unannounced. Depending on whether you are on the defensive (received a notice of audit or examination involving domestic or offshore/foreign accounts, assets, investments, or income) or you are on the offensive – seeking to apply to…
Court of Federal Claims Ruling (Schedule B, FBAR & Foreign Accounts)
Court of Federal Claims Ruling (Schedule B, FBAR & Foreign Accounts) When it comes to Foreign Accounts and FBAR, the courts are all over the board. District Courts and Appellate Courts are split on issues involving maximum FBAR penalties, enforcement procedures, etc. With that said, there is one near constant — which is that if…
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,…
IRS Offshore Compliance in 2019 (Penalties for Offshore Bank Accounts)
IRS Offshore Compliance in 2019 (Penalties for Offshore Bank Accounts) With 2018 coming to an end, you may be considering making a new start. In addition to eating healthy, working out every day, eating ALL your vegetables, and overall foregoing any other sources of fun or delight in your life – you may also be…
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…