Criminal FBAR penalties are among the most serious penalties that can be imposed for tax crimes. These penalties are not nearly as common as civil…
Texas Attorney Convicted for Tax Evasion Using Foreign Accounts
An attorney from Houston, Texas has been convicted of tax evasion and conspiracy to defraud the United States due to scheme involving foreign accounts. In…
The Risks of Failing to Disclose Your Foreign Bank Accounts
If you’ve been putting off disclosing your offshore accounts, you should understand the risks of your inaction. You should consider these risks alongside the costs…
How Long Do You Have to Make an Offshore Disclosure?
There is no time limit on your ability to make a voluntary disclosure of your offshore accounts. But you could become ineligible to make a…
How to Avoid FBAR Penalties
FBAR penalties can be up to $10,000 for non-willful violations. Willful violations have much higher penalties, so taxpayers with foreign accounts should take the time…