Taxpayers with offshore bank accounts need to be very careful to comply with all applicable IRS reporting requirements. A failure to properly disclosure your foreign…
Delinquent FBAR Filing Options in 2019
You have three main options for filing delinquent FBARs in 2019. You should talk to a tax attorney to determine which choice best fits your…
Disclosing a Failure to Report Offshore Income
If you have unreported foreign income in addition to unreported foreign account information returns (FBARs, etc.), it will limit your offshore disclosure options. You will…
Is The IRS Still Enforcing FBAR Compliance?
Despite the ending of the Offshore Voluntary Disclosure Program (OVDP), the IRS continues to enforce the reporting requirements for offshore accounts. Foreign Bank Account Reports…
How Long Do You Have to Disclose Offshore Accounts?
You can generally disclose your offshore accounts as long as the IRS has not begun an examination or criminal investigation into your non-compliance. However, you…