» Tax / IRS Penalties

The difference between willful and non-willful FBAR violations amount to hundreds of thousands of dollars. But what counts as willfulness can sometimes be unclear. A recent federal district court decision says even reckless taxpayers could face stiff… 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

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

When you discover that the IRS is investigating you for failing to report foreign financial accounts it can be intimidating. If you are facing the possibilities of FBAR penalties and criminal imprisonment, Your first question will likely be, “W… Read More