Search for: "IRS/FBAR"
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4 Jul 2012, 7:27 am
Tax Filing Regulations Revised for Overseas Americans is a post from: IRS Tax Problem Solver Blog - IRS Help [read post]
12 Apr 2018, 2:12 pm
The text of the IRS reminder is as follows: Deadline for reporting foreign accounts The deadline for filing the annual Report of Foreign Bank and Financial Accounts (FBAR) is the same as for a federal income tax return. [read post]
29 Jan 2019, 10:13 am
As with the OVDP, IRS-CI will not process tax returns or payments. [read post]
12 Jan 2012, 9:10 am
On the other hand, willful failure to file an FBAR would carry a draconian penalty, of 50% of the highest account balance for each year covered. [read post]
18 Sep 2011, 3:04 pm
The IRS in its OVDI Frequently Asked Questions (51.1) suggests that some taxpayers, meeting the specific fact pattern should “opt out” as the total penalty calculation will be less under the FBAR civil penalty program. [read post]
16 Oct 2012, 1:45 pm
He never filed an FBAR Form. [read post]
6 Sep 2011, 12:56 pm
September 9, 2011 is the last date for taxpayers to submit requests to participate in the IRS Second Supplemental Offshore Voluntary Disclosure Initiative (OVDI). [read post]
30 Jun 2022, 8:55 am
The IRS determined that Mr. [read post]
15 Jan 2012, 6:56 am
Reiss made no effort to enter the IRS Voluntary Disclosure Program (OVDP) which began in 2009. [read post]
30 Jun 2022, 5:49 pm
The IRS determined that Mr. [read post]
29 Apr 2009, 10:12 am
Although it appears that the New York investigations are centered on money laundering violations by banks and financial institutions, it is probable that evidence will be uncovered relating to individuals with offshore accounts; and such information will be turned over to the IRS, triggering tax fraud and FBAR violation investigations. [read post]
11 Oct 2011, 3:46 pm
According to a report in the Swiss newspaper Swiss Bank accounts over to the IRS, and/or the Department of Justice. [read post]
4 Nov 2021, 3:29 am
The IRS has the ability to enforce FBAR filing globally, so it’s important not to neglect FBAR filing. [read post]
5 Aug 2019, 1:42 am
Penalties for not filing an FBAR are steep, and the IRS is able to check the information provided, or see if an FBAR should have been filed but wasn’t, thanks to information received directly from foreign banks under FATCA, the 2010 Foreign Account Tax Compliance Act. [read post]
12 Jun 2011, 9:37 am
This is where the player may wish to consider the following options: 1) participating in the Offshore Voluntary Disclosure Initiative offered by the IRS and similar state programs, like that offered by California. 2) filing an Report of Foreign Bank Account (FBAR) with a disclosure stating the facts and circumstances of reporting. [read post]
22 Dec 2009, 10:51 pm
IRS Commissioner Doug Shulman also stated that the IRS will continue to its international enforcement efforts like increasing its scrutiny of annual Foreign Banks and Financial Accounts Reports (FBARs) besides redefining and further tightening existing FBAR rules. [read post]
27 May 2009, 11:05 am
I have prepared an outline that I have distributed, entitled "FBARs and Voluntary Disclosure", which is now available on my website. [read post]
22 Feb 2010, 10:59 am
This case illustrates a classic example of making a FBAR, and voluntary disclosure of the funds to the IRS, and insisted that his funds be wired to the U.S. it is likely he could have avoided his foreign financial account call the [read post]
25 Apr 2017, 2:34 pm
"The paper uses IRS data to examine what happened after (and presumably in consequence of) a number of steps being taken to address U.S. individual income tax evasion via the hiding of income in foreign accounts. [read post]
24 Jun 2014, 6:51 am
The IRS also made changes to the non-streamlined OVDP program. [read post]
