Category: Foreign Assets

Is There Any Way to Avoid Paying FBAR Penalties?

Avoid FBAR Penalties

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 penalties while getting you into reporting compliance. Key Insights We Will Discuss:  The qualifications for a delinquent FBAR submission or the Streamlined Procedures. The benefits… Read more »

How to File an FBAR for Previous Tax Years


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. The United States and Eritrea, a country located on the northeastern coast of Africa, are the only two countries in the world that base their… Read more »

What Are the IRS Streamlined Filing Compliance Procedures?

Streamlined Filing Compliance Procedures_ What Are They and Are You Eligible

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 acknowledge their failure to report all of their foreign assets, as well as to certify that this failure to report all foreign financial assets, and… Read more »