Tag Archives: FBAR
Wire Transfer Audits and FATCA: What Every Taxpayer Needs to Know
February 19, 2018Wire Transfer Audits and FATCA
What Every Taxpayer Needs to Know
by Attorney Morris N. Robinson, CPA, LLM
February 19, 2018
1. FATCA
FATCA: The Foreign Account Tax Compliance Act[1] was signed into law by President Obama on March 18, 2010. There ...
FBAR Penalties Now Adjusted for Inflation: Abatement/Mitigation Still Possible
June 22, 2017
If you haven’t filed your Report of Foreign Bank and Financial Accounts (FBARs) on a timely basis, you could be at risk of a higher civil penalty assessment. Inflation-adjusted FBAR penalties are now in effect.
New FBAR Civil Penalties Framework
The statutory civil penalties most people are familiar with, and as reflected ...
Delinquent International Information Tax Returns May Extend the Statute of Limitations on Your Entire Federal Tax Return
June 2, 2015More and more, U.S. taxpayers are becoming aware of their federal tax reporting obligation for foreign financial accounts, interests and assets. With increased IRS enforcement, broader media coverage of international tax evasion cases, and the implementation of FATCA reporting[1] by foreign financial institutions, the term “FBAR”
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