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25 Nov 2012, 11:49 am by admin3
On November 20, 2012 the IRS reiterated it position that persons with dual U.S. and other citizenship must still file Form 1040 (and related schedules and forms) even if they are citizens and permanent residents of another country. [read post]
18 Jul 2012, 11:48 am by LindaMBeale
   The FBAR enforcement initiative has led to a program that pushes people to seek amnesty under the various "voluntary disclosure" (with penalties) programs the IRS has put forth--the choice is to seek amnesty and pay the taxes and penalty now, or face the potential of criminal charges (and significantly worse penalties) later. [read post]
13 Jun 2019, 1:07 am by Bright!Tax Writers
” – the IRS Penalties for not filing an FBAR, even by accident, start at $10,000 a year, so it’s important not to neglect this additional filing requirement either. [read post]
30 Mar 2021, 1:30 am by Bright!Tax Writers
The IRS normally finds out either from the expat’s FBAR report for that year, or because the expat’s host country provides the expat’s foreign tax information under an information sharing agreement. [read post]
1 Dec 2021, 8:11 am by Joshua Smeltzer
Boyd participated in the Offshore Voluntary Disclosure Program (OVDP) but opted out and was subject to a full examination by the IRS. [read post]
16 Apr 2017, 12:58 pm by Michael Froomkin
US personal tax returns are normally due on April 15; because the 15th fell on a Saturday this year, the IRS extended the date to April 18. [read post]
12 Jul 2022, 12:46 pm by Angelina Cameron
So, if their 2021 tax return or any other required paperwork – like FBARs – aren’t correct, it may take a long time for the IRS to connect with them. [read post]
14 Jul 2013, 3:37 pm by Charles (Chuck) Rubin
Further, other significant penalties relating only to “information reporting” may likewise be at risk of challenge if the FBAR penalty is successfully challenged. [read post]
1 Apr 2011, 6:32 am by Joe Kristan
There's a new form for reporting offshore financial accounts. [read post]
20 Jul 2009, 8:55 am
The IRS is using a once-obscure tax form called the Foreign Bank... [read post]
27 Jun 2022, 2:30 pm by Angelina Cameron
Especially since you have multiple tax returns and possibly some FBARs to file. [read post]
5 Aug 2021, 9:06 am by Bright!Tax Writers
A word of warning: the IRS is receiving the same information directly from foreign banks and investment firms, and penalties for missed or incomplete FBAR filing start at $10,000 a year, so it’s important not to neglect this reporting requirement. [read post]
14 Jan 2010, 12:04 pm by Darrin Mish
Tax Cheat Avoids Jail is a post from: IRS Tax Problem Solver Blog - IRS Help [read post]
19 Apr 2013, 2:26 pm by Kelly Phillips Erb
On those days, IRS will shut down completely and taxpayers and practitioners will not have access to IRS resources. [read post]
28 Oct 2012, 3:19 pm by Old Fox
Also there are thousands of immigrants who are being seriously harmed, and are just heading back home rather than hand over their family savings to the IRS jihad just because they failed to send in an FBAR that few knew about.Yes, this stor [read post]
22 Oct 2012, 4:44 pm by Aaron
As I mentioned in my FBAR Updates post from 6/27, on September 1, the IRS announced the instructions for the new non-resident, non-filing US taxpayer compliance initiative. [read post]
11 May 2010, 5:52 am by Kelly
Also keep in mind that the IRS is much happier when you come to them, as opposed to the IRS coming to you. [read post]