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Businessman in handcuffs

U.S. Prosecutors Claim First FATCA Criminal Conviction

The Foreign Account Tax Compliance Act (FATCA) was designed to help the U.S. government track down undisclosed taxable assets overseas. Many say enforcement has been ineffective so far. Now U.S. prosecutors are claiming their first FATCA criminal con… Read More
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Categories: FATCA
1st Page of Manafort - Gates Indictment

Paul Manafort Indicted for Conspiracy, Tax Fraud, and FBAR Felonies

On October 31, 2017, it was announced that Trump adviser Paul Manafort and his assistant Richard Gates were indicted in federal court on charges of conspiracy, tax fraud, and FBAR reporting felonies. These charges were some of the first arising from… Read More
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Rand Paul

Court Says Sen. Rand Paul, Plaintiffs Can't Challenge FATCA / FBAR

Senator Rand Paul and several individual plaintiffs asked an Ohio federal court to strike down the Foreign Account Tax Compliance Act (FATCA), the Bank Secrecy Act’s Financial Bank Account Reporting (FBAR) requirement, and certain intergovernme… Read More
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Categories: FATCA, FBAR
Tax Help Written in Red Marker

FBAR vs FATCA: What You Need to Know

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
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Categories: FATCA, FBAR
Credit Suisse Freezes Accounts

Credit Suisse Freezes Accounts to Find Non-Reporting U.S. Taxpayers

If you are a U.S. taxpayer with accounts over seas, you may feel safe not reporting that income. You might assume there is no way the IRS will know. If so, recent activity by the Swiss bank Credit Suisse should give you food for thought. The Foreign… Read More
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