Posts Tagged ‘Foreign Bank and Financial Accounts (FBAR)’

Offshore Account Holders Must Act Now for Tax Amnesty to Avoid Severe IRS Penalties and Criminal Prosecution

Wednesday, September 23rd, 2009

There been lots of tax news and buzz about the extension of the tax amnesty period for offshore account holders. But something that has not been in the spotlight quite as much is how you will need expert tax help to take advantage of this so-called leniency from the IRS.
Brian Compton, my associate and the President of Tax Resolution Services, was recently interviewed by Rob Lever from the international publicationÂ
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Posted in Seeking Professional Tax Help, Tax news and tips, Voluntary Disclosure, tax help | 1 Comment »

Offshore Account Holders Can Still Seek Amnesty from Criminal Prosecution and Lower IRS Penalties Till September 23

Thursday, August 13th, 2009

UBS and the U.S. and Swiss governments are nearing a settlement over the Swiss bank’s forced disclosure of 52,000 names of  U.S. clients suspected of tax evasion.
While the final form of agreement is not yet in place, there are many implications for U.S. taxpayers, including innocent offshore account holders who did not use their Swiss accounts to evade taxes. They may be heavily investigated, so it will be
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Posted in Back Taxes, Tax news and tips, Voluntary Disclosure, Working with the IRS | 3 Comments »

IRS Wants to Know About Your Offshore Account

Friday, July 25th, 2008

Tax-collecting agency is questioning how many Americans have offshore accounts and how they’re being used
By Michael Rozbruch
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Have a bank account overseas?
Be sure to tell the IRS about it.
The U.S. tax-collecting agency asked Americans with overseas accounts to report them by June 30. If you haven’t done so, you could be in trouble.
Owing to globalization, more people in the United States have foreign financial accounts. There is nothing improper about setting
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Posted in Tax Problem FAQs | 1 Comment »