IRS laws related to the disclosure of foreign bank accounts by U.S. citizens can be complex. Sometimes, people with such accounts can make unintentional mistakes when […]
The Foreign Account Tax Compliance Act (FATCA), a federal tax law passed in 2010, requires U.S. taxpayers and foreign banks to disclose certain offshore accounts and […]
Earlier this year, we reported on Casey Padula, a Florida businessman that pleaded guilty to charges related to his hiding millions of dollars offshore. Padula returned […]
The IRS frequently releases publications to better inform the public and tax practitioners regarding the agency’s approach to an array of issues. A recent IRS announcement, […]
Individuals relying on secret accounts, trusts, and other entities to reduce their reported taxable income and assets are probably already aware that the number of nations […]