FBAR Penalty Stories

Joe Kristan has a nice little post about the absurd FBAR penalties: Another inspiring tale of international tax enforcement from Phil Hodgen: I’m 33 and single, I’ve been living in France for 13 years, am…

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IRS Criminal Penalties for Delinquent Offshore Account Holders

In considering whether or not to participate in the IRS’s Offshore Voluntary Disclosure Initiative (OVDI) taxpayers should be aware that if they do not participate and are caught they face a possible ten year prison sentence, a…

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IRS OFFSHORE VOLUNTARY DISCLOSURE AMNESTY

Peter Pappas discusses the IRS’s extension of the Offshore Voluntary Disclosure Intiative (OVDI).  Taxpayers with unreported foreign accounts and unreported foreign income are urged to come forward and participate in the OVDI program to avoid serious…

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