foreign bank accounts

June 14, 2018
Do I Need to Report Foreign Gifts to the IRS?

Do I Need to Report Foreign Gifts to the IRS?

If you timely filed for a tax extension, you have until October 15, 2018 to submit your federal income tax return to the Internal Revenue Service […]
April 11, 2018
Updates on the Criminal Tax Cases Against Ex-Trump Associates Paul Manafort and Rick Gates

Updates on the Criminal Tax Cases Against Ex-Trump Associates Paul Manafort and Rick Gates

If you read or watch the news, you have likely been following the high-profile criminal cases against Paul Manafort and Rick Gates, respectively former campaign manager […]
April 4, 2018
Foreign Account Reporting Options for Taxpayers Who Do Not Qualify for the Offshore Voluntary Disclosure Program (OVDP)

Foreign Account Reporting Options for Taxpayers Who Do Not Qualify for the Offshore Voluntary Disclosure Program (OVDP)

The Offshore Voluntary Disclosure Program (OVDP), known in previous years as the Offshore Voluntary Disclosure Initiative (OVDI), was established by the Internal Revenue Service (IRS) to […]
March 23, 2018
Sending Money to a U.S. Bank from Abroad? Beware a Wire Audit Transfer – and Potential FATCA Penalties

Sending Money to a U.S. Bank from Abroad? Beware a Wire Audit Transfer – and Potential FATCA Penalties

Making a wire transfer is a fast and convenient method of electronically moving funds from one bank account to another, generally ensuring the recipient’s access within […]
March 17, 2018
Use Sales Tax Enforcement

Use Sales Tax Enforcement

This is HUGE! A recent use tax audit of a current client has resulted in a revelation concerning what I perceive to be ever-increasing exposure for […]
February 24, 2018
Massachusetts Man Fined Over $1M, Sentenced to Prison After Concealing Foreign Bank Account from IRS

Massachusetts Man Fined Over $1M, Sentenced to Prison After Concealing Foreign Bank Account from IRS

On October 5, 2017, 50-year-old Michael Fitzgerald of Longmeadow, Massachusetts pleaded guilty in Springfield federal court to one count of willfully concealing a foreign bank account […]