FATCA

September 20, 2019

Ruling Against Chinese Banks Threatens Taxpayers Who Fail to Comply with FATCA, FBAR

In a sealed case argued and decided earlier this summer, the U.S. Court of Appeals for the D.C. Circuit sided with the IRS against three unspecified […]
July 12, 2019

As New IRS Campaign Targets Foreign Banks, U.S. Taxpayers with Offshore Accounts Face Increased Danger

Accounts Face Increased Danger If you have visited our tax blog, you have likely heard us discussing a federal law known as the Foreign Account Tax […]
October 8, 2018
First Taxpayer Convicted for FATCA Noncompliance, More IRS Enforcement Expected

First Taxpayer Convicted for FATCA Noncompliance, More IRS Enforcement Expected

The acronym “FATCA” refers to the Foreign Account Tax Compliance Act. FATCA, which was passed by Congress in 2010 as part of the Hiring Incentives to […]
September 19, 2018
What to Do if You Received a FATCA Letter from Your Bank About Foreign Account Reporting

What to Do if You Received a FATCA Letter from Your Bank About Foreign Account Reporting

If you are a U.S. citizen or resident alien with a foreign checking or savings account, at some point you will likely receive a FATCA letter […]
July 18, 2018
How U.S. Tax Laws Like FATCA Can Cost Dual Citizens Thousands

How U.S. Tax Laws Like FATCA Can Cost Dual Citizens Thousands

Tom Wallis has lived in France since his birth 40 years ago in Grenoble, a city located in the country’s southeastern region. Yet despite spending a […]
February 5, 2018
What Are the Sentencing Guidelines for Taxpayers Convicted of FBAR Violations?

What Are the Sentencing Guidelines for Taxpayers Convicted of FBAR Violations?

If you have foreign assets or income, you may be required to file an FBAR (Report of Foreign Bank and Financial Accounts) disclosing the assets to […]