FBAR Blog & Foreign Account Compliance

Featured FBAR Blog Post

Be Prepared for a New Round of IRS FBAR Examinations 2024

Contents1 IRS FBAR Examinations2 New FBAR Examinations for Foreign Account Violations3 Late Filing Penalties May be Reduced or Avoided4 Current […]
Read more

International Tax Form Filing Penalties: Explaining the Basics

Contents1 International Tax Form Filing Penalties2 International Information Return (IIR) Assessable Penalties 3 It is Almost Never Criminal4 You Are […]
Read more

The Options For US Taxpayers with Undisclosed Foreign Assets

Contents1 US Taxpayers with Undisclosed Foreign Assets2 Voluntary Disclosure (VDP/OVDP)3 Streamlined Procedures (SFCP/SDOP/SFOP)4 IRS Delinquency Procedures5 Delinquent FBAR Submission Procedures […]
Read more

The Defenses to FBAR Penalties: FBAR Strategies for a New Year

Contents1 The Defenses to FBAR Penalties2 Non-Willfulness3 Reasonable Cause Defense to Non-Willfulness4 A Warning Letter In lieu of Penalties5 Reduced […]
Read more

Defenses to FBAR Penalties: FBAR Strategies for a New Year

Contents1 The Defenses to FBAR Penalties2 Non-Willfulness3 Reasonable Cause Defense to Non-Willfulness4 A Warning Letter In lieu of Penalties5 Reduced […]
Read more

An Amnesty Tax Guide for Non-Willful Expat or Foreign Taxpayers

Contents1 An Offshore Amnesty Tax Guide for Non-Willful Taxpayers 2 Taxpayers MUST be Non-Willful3 Foreign Resident4 330-Days vs SPT5 Taxpayers […]
Read more

Tax Evasion of Foreign Accounts, Income and Assets Explained

Contents1 Tax Evasion2 Tax Evasion of Foreign Income3 26 U.S.C. 72014 International Tax Evasion Example 5 Recent International Tax Evasion […]
Read more

If You do Not File FBAR Will IRS Assess You FBAR Penalties?

  Contents1 What Happens If You Do Not File FBAR (FinCEN 114)?2 Reasonable Cause to Avoid FBAR Penalties3 Delinquent FBAR4 […]
Read more

Form 3520: Who Must File, When is it Due and 3520 Penalties

Contents1 Form 3520 and Penalties2 Section 6039F3 Notice 97–34, Page 24 Section 60485 What is Form 3520?6 Who Must File […]
Read more

New Stricter Non-Willful FBAR Penalty Procedure After Bittner

Contents1 IRS Updates Non-Willful FBAR Procedures2 IRM 4.26.16.5, FBAR Penalties Revise Paragraph (4) 3 IRM 4.26.16.5.4.1, Penalty for Non-willful Violations4 Same […]
Read more

The Streamlined Foreign Offshore Procedures (New 2023)

Contents1 Streamlined Foreign Offshore Procedures 2 Willfulness vs Non-Willfulness3 Foreign Residency4 Substantial Presence Test5 1040 vs 1040-NR6 You Can File Original […]
Read more

The New Streamlined Domestic Offshore Procedures (2023)

Contents1 Streamlined Domestic Offshore Procedures2 Benefits of the Streamlined Procedures3 Purpose of IRS Streamlined Domestic Offshore Program4 Streamlined Domestic Offshore […]
Read more