» FBAR

Many foreign nationals do not realize the reporting and tax requirements imposed on them by the IRS. While it has been said ignorance of the law is no excuse, intentional tax avoidance can result in far more severe penalties, including prison and mil… Read More

Many American taxpayers and business owners use accountants or CPAs to prepare their taxes. Their involvement in the tax process may be as little as signing the return and cutting a check, without ever really considering their accountant’s advi… Read More

For many taxpayers, the failure to file reports of foreign financial accounts happens by accident, or at least inadvertently. Even many penalties issued for willful violations are the result of a taxpayer’s negligence rather than any complex ta… Read More

As a U.S. taxpayer, you may believe that one run in with the IRS is enough. If you have faced FBAR penalties or criminal prosecution for tax evasion or failure to file necessary forms, you may assume you don’t have to worry anymore. But FBAR penalt… Read More

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

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

It can sometimes feel like the Internal Revenue Service (IRS) is out to get taxpayers who don’t know the rules. But a recent federal court indictment, if proven true, will show that sometimes taxpayers know exactly what they are doing when they com… Read More

Taxpayers across the country rely on advice from their accountants and CPAs to meet the complicated requirements of the U.S. Tax Code. But a case currently pending in the U.S. Court of Federal Claims suggests that CPA advice may not be enough to stop… Read More