by Igor Drabkin | Jan 25, 2017 | FBAR, Internal Revenue Service
Beginning this year, reporting for the 2016 calendar year, the due date for filing Foreign Bank Account Reports (FBAR) changes from June 30th (which applied to all the previous tax years) to the same filing deadline as individual income tax returns, April 15.
by Igor Drabkin | Nov 2, 2016 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
According to the new data, 55,800 taxpayers have come into the Offshore Voluntary Disclosure Program (OVDP) to resolve their tax obligations, paying more than $9.9 billion in taxes, interest and penalties since 2009.
by Igor Drabkin | Jan 4, 2016 | Firm News
Igor Drabkin will participate as a panelist at the American Bar Association Tax Section Midyear Meeting, which will be held January 28-30, 2016, at JW Marriott in downtown Los Angeles.
by Igor Drabkin | Nov 3, 2015 | FBAR, Internal Revenue Service, Offshore Income
In order to effectively implement FATCA requirements, the United States have worked with foreign governments to develop two types of Intergovernmental Agreements (IGAs).
by Igor Drabkin | Oct 19, 2015 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On October 16, 2015, right after the 2014 tax filing season had completed, the Internal Revenue Service issued a report on the Offshore Voluntary Disclosure Procedures, urging the taxpayers with still undisclosed foreign accounts to come forward, or face serious consequences. The report also provided latest statistics on the Offshore Disclosure Program.