Can Non-Willful FBAR Penalties Exceed $10,000 Per Year?
by Michele Weiss US taxpayers are obligated to file a foreign bank account report (“FBAR”) if the aggregate value of their foreign account interests exceeds $10,000 on any day during a calendar year. 31 U.S.C. § 5314; 31 C.F.R. §§ 1010.350(a), 1010.306(c). Taxpayers...Holtz, Slavett & Drabkin invites you to register for a Strafford live webinar.
FATCA Reporting: Filing Form 8938
Recent FBAR Cases Show Mixed Results in Taxpayers Fighting Against Aggressive Penalties
Crackdown on the offshore accounts continues to be one of the top priority issues for the IRS. In the last few years, the DOJ and the IRS have taken aggressive positions in imposing and collecting huge penalties for taxpayers’ failure to report their foreign accounts...
Igor Drabkin and David Warner to Conduct Strafford Webinar on Updates Related to FBAR Filings and Enforcement
We are pleased to announce that Igor Drabkin and David Warner will be speaking in an upcoming Strafford live webinar, “FBAR 2020 Update: FinCen Form 114, Deadlines, Extension, Penalty Resolution, and Waiver Provisions” scheduled for Thursday, July 16