Most law-related information on the web comes with a disclaimer towards the end.  When discussing foreign real estate and offshore disclosure, though, I would put the disclaimer at the very…

Taxpayers who have foreign accounts or interests that exceed $10,000 at any point during the year must submit a Foreign Bank Account Report (FBAR) through the Financial Crimes Enforcement Network…

Do you hold overseas banking accounts?  Do your foreign accounts exceed $10,000? Have you failed to disclose foreign holdings to the IRS? If you answered “yes” to any of these…

If you have money in foreign bank accounts, you are not immune from disclosing that information to the IRS.  The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions…

You may be able to avoid paying FBAR penalties if you qualify for a delinquent FBAR submission or the Streamlined Compliance Procedures.  These voluntary disclosure methods eliminate or reduce your tax…

IRS examiners have discretion when assessing both willful and non-willful FBAR penalties.  You could receive higher or lower FBAR penalties depending on the specific facts and circumstances of your case.…

If you failed to file FBARs for one or more tax years, you have several options for correcting your noncompliance.  The best option for your situation will depend on many…

Immersing yourself into different cultures overseas can be adventurous, but if you’re not careful, you could come back to the states to find yourself out of compliance with the IRS.…

If you had a financial interest in or signature authority over foreign accounts exceeding $10,000, you need to file a Foreign Bank Account Report (FBAR). An unfiled FBAR can lead…

Many people may wonder what constitutes the IRS streamlined filing compliance procedures. The IRS streamlined filing compliance procedures are a system of procedures which allows US taxpayers the ability to…