FBAR Compliance and Disclosure FAQ

June 30, 2014

Potential charges for not participating in the 2014 OVDP

Note: If you use the Streamlined Filing Compliance Procedures under the incorrect assumption that you were non-willful you have exposure for all of the following: As […]
March 25, 2014

2012 OVDI program vs. the voluntary disclosure practice

Similar to the 2009 and 2011 OVDI, this program addresses the civil side of a taxpayer’s voluntary disclosure of foreign accounts and assets. It also defines […]
March 25, 2014

Why to consider making a Voluntary Disclosure

Each of the reporting failures delineated above (a, b, c & d), if willful, could be the basis for tax felony prosecutions in the U.S. which, […]
March 25, 2014

Why did the IRS announce the 2012 OVDI at this time?

The IRS announced a new initiative on June 26th, 2012 to further enforce timely compliance of U.S federal income tax returns, and also Reports of Foreign […]