FATCA & FBAR Conviction – Risk of Using CPAs in Offshore Disclosure

FBAR & FATCA Conviction – Risk of Using CPAs in Offshore Disclosure – Golding & Golding FATCA & FBAR Conviction – Risk of Using CPAs in Offshore Disclosure Paul Manafort (President Trump’s former Campaign Manager) was recently convicted of many different crimes relating to the non-disclosure of offshore accounts. The main problem was that Manafort: Kept the foreign accounts secret; He did not disclose them to the IRS; and He used a CPA. How Did He Get Caught? Manafort ended up being done in by his own accountant, who testified against him. Isn’t There an Attorney Client Privilege was a CPA? No. There is an Accountant-Client Privilege, but it does not carry near the same weight or protection as the Attorney-Client Privilege. It does not protect against criminal or quasi-criminal investigations. What About a Kovel Letter? Kovel Letters are not statutory law. All the “Kovel Letter” does is let you speak to a CPA or Accountant…

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