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...
Israeli Bank Mizrahi-Tefahot Admits to Helping US Taxpayers Conceal Income and Assets; Agrees to Pay $195 Million to U.S.
Israeli Bank Mizrahi-Tefahot Admits to Helping US Taxpayers Conceal Income and Assets; Agrees to Pay $195 Million to U.S.
IRS Offshore Voluntary Disclosure Program to End Soon
IRS Offshore Voluntary Disclosure Program to End Soon
Foreign Banks Continue Cooperation with DOJ
Foreign Banks Continue Cooperation with DOJ