Tags » FBAR

New, Friendlier Option for Foreign Bank Account Disclosure

Originally published in the Cedar Street Times

August 8, 2014

In July, a few new and more attractive options became available for taxpayers that have accounts in foreign countries that they have not reported.   721 more words

Tax Returns

Revenue from the Offshore Voluntary Disclosure Initiatives (OVDI), FBAR, and FATCA

On June 18, 2014, IRS Commissioner John Koskinen disclosed that the 2009, 2011, and ongoing 2012 OVDIs have generated more than 45,000 disclosures and the collection of about $6.5 billion in taxes, interest and penalties. 111 more words

GATCA

Offshore Voluntary Disclosure Initiative (OVDI) leads to average $2,220 a year FBAR penalty for $17 dollar tax understatement

Disclosures and Amount Recovered Thus Far by OVDI from Non-Compliant Taxpayers 

On June 18, 2014, IRS Commissioner John Koskinen disclosed that the 2009, 2011, and ongoing 2012 OVDIs have generated more than 45,000 disclosures and the collection of about $6.5 billion in taxes, interest and penalties.   1,790 more words

FATCA

FBAR filing requirements clarified by IRS: did you miss the filing date?

A U.S. person is required to file the FBAR (Report of Foreign Bank and Financial Accounts) in 2014 should note that the mechanics of filing the FBAR have changed from previous years. 994 more words

FBAR

Did you file your FBAR today? You still have a couple hours left!

The FBAR is an annual report and must be filed on or before June 30th! The FBAR must be filed electronically through FinCEN’s BSA E-Filing System.   830 more words

FATCA

A Bitcoin of Sunshine, Bancorp's $200 Million Mess and TreeHouse Foods Has a Healthy Appetite

Move over marijuana!

The hottest new item to get California legalization has nothing to do with cannabis and a whole lot to do with money. The Sunshine State and its very emlightened Governor Jerry Brown just signed a bill into law legalizing alternative currency.  481 more words