Tag Archives: Offshore

Internal Revenue Service Reminds Taxpayers to Report Offshore Bank Accounts on FBAR Form

The Internal Revenue Service has issued its annual reminder to taxpayers that they report their foreign assets on their individual tax returns due on April 17, 2018. Individuals with offshore assets such as bank accounts generally have up to three … Continue reading

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IRS: Offshore tax cheating remains on ‘Dirty Dozen’ list of tax scams

The IRS released their yearly Dirty Dozen tax scams for 2018. Offshore tax cheating remains on its list this year, despite the large number of taxpayers who have voluntarily come forward since the offshore voluntary disclosure program was implemented. Here’s … Continue reading

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Offshore Tax Evasion Rounds Out IRS Annual “Dirty Dozen” for 2018

The Internal Revenue Service has issued a warning to taxpayers about avoiding taxes by hiding money or assets in unreported offshore accounts, a tax scam that remains on the annual “Dirty Dozen” for 2018. Offshore tax compliance has been a … Continue reading

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IRS Offshore Voluntary Disclosure Program: How to avoid harsh FinCen 114 (FBAR) fines

If you own foreign assets, then you have certain US income tax filing rules that you must follow if the account balance in the account exceeds $10,000 (for instance the FinCen Form 114). The IRS filing requirement for foreign assets … Continue reading

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Without OVDP, IRS Offshore Willful Penalties Are Looming

Without OVDP, IRS Offshore Willful Penalties Are Looming Without OVDP, IRS Offshore Willful Penalties Are Looming by Golding & Golding, A PLC In the next six (6) months, individuals, estates, and businesses that were willful or need to take a … Continue reading

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