FBAR Compliance and Disclosure

January 26, 2020

Swiss Bank Enters Into Amended Non-Prosecution Agreement With DOJ, Pays Additional $14 Million Fine

According to a Department of Justice press release, Union Bancaire Privée, UBP SA (UBP), a Geneva, Switzerland-based bank recently entered into an amended non-prosecution agreement with […]
November 26, 2019

IRS LB&I Announces Post OVDP Compliance Campaign, Signaling Danger for International Taxpayers

The IRS Large Business and International Division, better known as “LB&I,” is the branch of the IRS focused on taxpayers with significant assets, such as partnerships […]
November 22, 2019

California Businessman Sentenced on Charges Related to Foreign Bank Accounts

The crackdown on Americans with undisclosed foreign bank accounts continues as another prosecution has resulted in a California businessman being sentenced to federal prison for nearly […]
November 19, 2019

Court Upholds $800,000 FBAR Penalty Against Woman Who Concealed Swiss Bank Account

Our tax law blog offers numerous cautionary tales of taxpayers who received hefty penalties after failing to report foreign bank accounts, such as the banker fined […]
November 15, 2019
US investments in Israel targeted by IRS

Do You Have a Bank Account in Israel? The IRS May Be Targeting You

The Internal Revenue Service (IRS) coordinates with global banking and financial systems and foreign governments to discover when U.S. taxpayers have failed to report foreign investments, […]
September 26, 2019

IRS Sues California Taxpayer for $119M in FBAR Lawsuit Over Unreported Foreign Accounts

The United States District Court for the Northern District of California recently ruled in favor of the Internal Revenue Service, which sued defendant Francis Burga for […]