Once you’ve determined that you are eligible to use the Streamlined Filing Compliance Procedures, there are many documents and forms you’ll need to submit for…
Eligibility for the Streamlined Compliance Procedures
The Streamlined Filing Compliance Procedures offer taxpayers a less costly alternative for disclosing their unreported offshore accounts. There are several eligibility criteria. Make sure you…
Offshore Account Issues for Dual-Citizens
Even if they are also citizens of another country, U.S. citizens have several tax obligations to comply with each year: They need to file tax…
What Accounts Need to Be Reported on an FBAR?
The general rule is that a Foreign Bank Account Report (FBAR) must be filed if the aggregate value of the taxpayer’s foreign accounts exceeded $10,000…
Criminal Penalties for FBAR Violations
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…