FBAR Compliance and Disclosure

May 12, 2020
Foreign Retirement Income Dangers

U.S. Continues to Crack Down on Offshore Bank Account Compliance Amid COVID-19

According to a Department of Justice press release, Israel’s largest bank recently pleaded guilty to charges relating to its willful provision of assistance to Americans attempting […]
April 17, 2020
attorney tax evasion

Florida Businessman Pleads Guilty to Tax Evasion and FBAR Crimes

According to a Department of Justice press release, a Florida businessman recently plead guilty to counts of willful failure to file an FBAR and tax evasion. […]
March 26, 2020
IRS building

Treasury Secretary Indicates That High-Earnings Individuals Are in IRS Crosshairs

In comments made to lawmakers in the House of Representatives earlier this month, Treasury Secretary Steven Mnuchin indicated that the IRS would be ramping up enforcement […]
March 13, 2020
Photo by Doran Erickson on Unsplash

Treasury Excepts Reporting for Interests in Certain Tax-Favored Retirement and Non-Retirement Savings Trusts in Revenue Procedure 2020-17

Last week, the Treasury Department released Revenue Procedure 2020-17, which provided taxpayers guidance regarding information filing requirements related to certain tax-favored foreign retirement trusts and certain […]
February 27, 2020

Another Swiss Bank Admits to Tax Evasion, Putting More U.S. Account Holders at Risk

Under a series of tax laws, intergovernmental agreements (IGAs), and international treaties, such as the Foreign Account Tax Compliance Act (FATCA), offshore banks are obliged to […]