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26 Jul 2012, 8:56 am
The IRS is insanely aggressive in assessing FBAR penalties. [read post]
14 Sep 2017, 8:43 am
The IRS imposes severe penalties on taxpayers who fail to file a Report of Foreign Bank and Financial Accounts (FBAR). [read post]
18 Oct 2010, 11:18 am
Last month the IRS lost a case (Foreign Bank Account Report, FBAR). [read post]
3 Dec 2018, 11:47 pm
Does the IRS Have Discretion to Apply Lower FBAR Penalties? [read post]
9 Aug 2009, 9:00 am
The IRS on Friday issued Notice 2009-62, 2009-35 I.R.B. ___ (Aug. 31, 2009), which provides information on the Report of Foreign Bank and Financial Accounts (FBAR) for government agencies to use in criminal, tax, or regulatory investigations or proceedings. [read post]
1 Jun 2015, 10:28 am
While all of this leaves a fair amount of discretion with the IRS examiner, it does suggest that there are “norms” for FBAR penalties. [read post]
8 May 2014, 11:00 am
In its most recent version of its “FBAR Reference Guide”, the IRS indicates that an individual will be deemed to have “signature authority” over a foreign financial account if the individual is named as agent under a power of attorney…Read more › [read post]
8 May 2014, 11:00 am
In its most recent version of its “FBAR Reference Guide”, the IRS indicates that an individual will be deemed to have “signature authority” over a foreign financial account if the individual is named as agent under a power of attorney…Read more › [read post]
5 Jun 2013, 3:24 pm
If the IRS asks for a FATCA form and you refuse to comply, they may assess you with a $50,000 penalty for noncompliance. [read post]
30 Oct 2009, 12:17 pm
FBAR- IRS Voluntary Disclosure Attorneys Even if the taxpayer has missed the October 15, 2009, deadline, IRS voluntary disclosure program may still be available to those with delinquent FBAR, unreported income or undisclosed foreign bank accounts. [read post]
30 Oct 2009, 12:17 pm
FBAR- IRS Voluntary Disclosure Attorneys Even if the taxpayer has missed the October 15, 2009, deadline, IRS voluntary disclosure program may still be available to those with delinquent FBAR, unreported income or undisclosed foreign bank accounts. [read post]
19 Dec 2008, 5:59 pm
The Internal Revenue Service (IRS) has revised Form 90-22.1, Report of Foreign Bank and Financial Accounts, also known as an "FBAR. [read post]
10 Jul 2013, 9:00 am
The IRS has assessed FBAR penalties against Carl R. [read post]
29 Oct 2010, 3:25 pm
In mid-October the IRS filed a FBAR (Form TDF 90-22.1) penalties of over $225,000 for a civil failure to file anFBAR case that I am aware of which didn’t involve an underlying non-tax crime. [read post]
14 Sep 2023, 2:46 pm
” FBAR Violations For some time, the IRS has focused on identifying taxpayers who have failed to file timely and proper FBARs regarding their foreign financial accounts. [read post]
30 Jun 2014, 8:06 am
Author’s Update: [tweet_quote display="IRS confirms that FCEN is not requiring that digital (or virtual) currency accounts be reported on an FBAR. [read post]
7 Jan 2021, 1:23 am
The post IRS Announces Cryptocurrency Accounts to be Added to FBAR Reporting appeared first on Bright! [read post]
30 May 2015, 7:23 pm
Penalties for nonwillful violations can be as high as $10,000 PER UNREPORTED ACCOUNT per year.In a recently issued guidance memorandum, the IRS seeks to provide guidance to its personnel to ensure consistency and effectiveness in the administration of FBAR penalties. [read post]
16 Jun 2011, 8:44 am
Posted by James MastracchioToday, the IRS announced an extension until November 1, 2011 for taxpayers who did not file TD F 90-22.1 (FBARs) forms in prior years. [read post]
13 Jan 2010, 11:03 am
The IRS has issued a fact sheet on filing FBAR fact sheet adds nothing to the sum of our knowledge on foreign financial account, including a bank account, brokerage account, mutual fund or other type of financial account, you may be required to report the account yearly to the Department of the Treasury. [read post]
