IRS Penalties for For Not Disclosing Offshore Assets or Income (2018)

IRS Penalties for For Not Disclosing Offshore Assets or Income (2018) IRS Penalties for For Not Disclosing Offshore Assets or Income (2018) by Golding & Golding In the last 5 to 10 years, Internal Revenue Service and U.S. Government in general have made the enforcement of offshore and foreign reporting and disclosure requirements a key enforcement priority. This typically includes timely and accurate reporting of foreign income, assets, investments, and accounts. IRS Offshore Penalties Depending on facts facts and circumstances of the noncompliance the IRS has the right to issue extremely lopsided penalties against any individual who is out of IRS compliance. Even a cursory review of the IRS penalties and the Standard of Proof required by the IRS to prove the penalties reflects that even minor infractions can result in significant penalties. Not Everyone Gets Penalized We understand that as you research issues online, many attorneys and CPAs seem to…

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