The tax filing deadlines have passed, and with them the updated deadlines for the disclosure of foreign bank accounts and financial assets. In the last days before the filing deadline on April 18, the IRS issued “reminders” that could hav… Read More

When a California businessman’s Israeli bank accounts came to light, it revealed a decades-long conspiracy to hide assets that has aspects of a Hollywood movie. When the case was closed, the taxpayer was looking at 24 months in prison and milli… Read More

Every year, the Internal Revenue Service (IRS) lists its “Dirty Dozen” — those behaviors that they say are the worst tax scams of the year. Offshore accounts have made the list again. But with proper reporting, there is nothing illegal… Read More

Changes to the IRS foreign financial account filing requirements, especially the FBAR filing deadline for 2016, could catch US taxpayers off guard next month. Don’t get caught unaware. Find out what you and your accountant need to know now, bef… Read More

No one wants to pay penalties for failing to file reports on federal accounts. Even in spite of a tax attorney’s best efforts, the IRS will sometimes issue FBAR penalties improperly. A recent federal District Court decision explains what U.S. t… Read More

As you prepare to file your federal tax return and related documents with the IRS, it is important to be aware that the federal government imposes mandatory reporting requirements for broad categories of foreign financial accounts and other assets in… Read More

Any presidential election brings with it the chance for changes to tax laws and enforcement priorities. IRS Commissioner John Koskinen explains that, at least through November 2017, the Offshore Voluntary Disclosure Program (OVDP) will continue. Many… Read More

No one wants to pay more than they have to in taxes. But taking tax shortcuts can cause big problems when the IRS and the Justice Department get involved. Depending on the size, length of time, and severity of the tax fraud, you could even face crimi… Read More