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Showing posts with label foreign bank accounts. Show all posts
Showing posts with label foreign bank accounts. Show all posts
November 5, 2021

US Taxpayer Pleads Guilty to Failure to File a Foreign Bank Account Report

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              CONCORD -  Georges Mazraani, 57, of Windham, pleaded guilty in federal court on Wednesday to willful failing to file a foreign...
December 19, 2018

INDIVIDUAL AND CORPORATE TAXES IN COUNTRIES AROUND THE WORLD - FOR EXPATS

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Need to know the income taxes, corporate taxes in the country you are living in or the country you plan to move to after you leave the USA ...
October 9, 2014

IRS Continues to Prosecute for Failing to File FBAR (form 114) forms and Collect Large Penalties

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Howard Bloomberg, a forensic account and certified fraud examiner of Atlanta, Georgia, pleaded guilty on Friday to failing to file a Forei...
June 19, 2013

G8 Conference Folows US IRS Lead to Eliminate Tax Evaision and Investment Secrecy Abroad

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 The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in ...
June 5, 2013

FILE YOUR 2012 FBAR (TDF 90-22.1) ON BEFORE 6/28/13 ON LINE

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You can file your FBAR form for 2012 on line in order to meet the 6/28/13 filing deadline. Got to   http://bsaefiling.fincen.treas.gov/Enro...
June 4, 2013

Accelerated FBAR Filing Deadline in 2013

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In general, FBARs must be received by the U.S. Treasury Department by June 30. Because June 30, 2013, falls on a Sunday, FBAR filers shou...
January 29, 2013

FATCA- Using a non US passport to open your foreign bank accounts will not work!

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FATCA  requires foreign banks to conduct  due diligence  to see if there are US persons with foreign bank accounts.   The fact you did ...
November 4, 2012

Chief of IRS Criminal Investigation Divisions Comes After Those No Disclosing Foreign Accounts and Assets

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 On October 18th, the chief of the IRS’ Criminal Investigation Division, Richard Weber, stated that his 4000 special agents will continue...
September 20, 2012

NO FBAR PENALTY FOR TAXPAYER WHO OPTS OUT OF IRS OFFSHORE DISCLOSURE PROGRAM

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One Taxpayer who opted out of the administrative nightmare of the IRS Offshore Disclosure Program has been assessed no penalties for late f...
July 26, 2012

FBAR (TDF 90-22.1) - When is there willful failure to file which leads to highest penalties?

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The  4th District Federal Court has just held that there is willful failure to file an FBAR (TDF 90-22.1) form when you check the box ...
May 13, 2012

10 IRS Rules for Stress-Free Foreign Financial Accounts

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See the article HERE from Forbes Magazine for these ten rules: Remember financial accounts also  include foreign pension accounts, gold he...
February 13, 2012

IRS KNOWN TO BE INVESTIGATING BANK AND FINANCIAL ACCOUNTS IN THE FOLLOWING NAMED COUNTRIES

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Though the IRS tries to keep their investigation into offshore financial accounts held by US taxpayers confidential, it is known that they ...
December 30, 2011

Final Form 8938- Statement of Foreign Financial Assets Released

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US Taxpayers including US Citizens, US Permanent Residents, and US Expatriates  may have to file Form 8938 with their US Income tax returns...

FATCA Produces Fear Among US Expatriates and Foreign Banks

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US Expatriates living Abroad and Foreign Financial Institutions are all in fear of the "sledge hammer" rules they must comply wit...
November 30, 2011

New FBAR form with Revised Instructions Just Released by IRS

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The IRS just release in November a new FBAR (TDF 90-22.1) form with revised instructions which clarify some of the filing requirements and ...
November 4, 2011

SWISS GOVERNMENT OFFERS TO MAKE DEAL WITH IRS

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Reuters reports the Swiss government has offered to pay a $10 Billion dollar penalty to the IRS  and US Justice Department for civil pena...
October 13, 2011

Special Extended Filing Date for pre-2010 FBAR Signatory Powers IS November 1, 2011

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November 1, 2011 is the deadline for persons whose relationship to foreign accounts is as signatory only ( i.e., those persons who have ...
September 7, 2011

Amercian Citizens Abroad Call for Repeal of Foreign Bank Account Reporting on US Taxpayer Offshore Accounts

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American Citizens Abroad (ACA) is advocating for the repeal of the draconian IRS rules requiring foreign banks withhold and report on foreig...
August 23, 2011

Ninth Circuit finds Fifth Amendment (self incrimination) inapplicable to offshore banking records

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M.H. v. United States; No. 11-55712 (8/19/2011) The Ninth Circuit recently held that the Fifth Amendment privilege against self-incriminati...
May 31, 2011

FBAR Filing Deadline Extended for Certain Financial Professionals

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WASHINGTON — The Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) today announced that a small subset of indi...