The Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced that electronic filing (e-filing) of TD F 90-22.1, Report of Foreign Bank and Foreign Accounts (FBAR), won’t be required until June 30, 2013.
Igor Drabkin to Speak at the FBAR and FATCA Seminar by Strafford
The National Taxpayer Advocate (NTA) has issued a Taxpayer Advocate Directive , complaining about unfair treatment of certain participants in the 2009 Offshore Voluntary Disclosure Program (OVDP). It appears that the NTA shared the same frustration with the OVDP that many tax practitioners, including our tax attorneys, have felt over the infamous Q&A 35 published by the IRS in the Frequently Asked Questions and Answers for the 2009 program.
Today, the IRS announced that they reopened the Offshore Voluntary Disclosure Program for taxpayers with undeclared foreign accounts.
The IRS is reminding taxpayers that the deadline for the 2011 Offshore Voluntary Disclosure Initiative (OVDI) will expire on August 31, 2011.