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foreign bank accounts

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 of a Wire Transfer Audit – and Potential FATCA Penalties

Wire Transfer Audit & Potential FATCA Penalties: This Page at a Glance Understanding how international financial holdings affect American taxpayers is a difficult process, even when […]
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 […]
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 […]
January 9, 2018
Have a Foreign Bank Account? You May Be Required to File an FBAR

Have a Foreign Bank Account? You May Be Required to File an FBAR

It’s common knowledge that the majority of U.S. citizens – around 240 million of them, according to the Internal Revenue Service (IRS) – are required to […]
December 30, 2017
Let the Paradise Papers Be a Reminder to Taxpayers: File an FBAR if You Have Foreign Income

Let the Paradise Papers Be a Reminder to Taxpayers: File an FBAR if You Have Foreign Income

If you follow the news even casually, you have doubtlessly read about the Paradise Papers, a recent leak of roughly 13.4 million financial documents exposing the […]