Overseas Bank Accounts Could Still Cost You $100,000 or More

If you are a US taxpayer, including foreign nationals who live and work in the United States you need to take notice. ...

Is this the end of the OVDP for IRS FBAR disclosures regarding offshore bank accounts, investment accounts and assets?  The IRS has...

As the IRS announces an end to Offshore Voluntary Disclosure programs associated with the reporting of offshore bank accounts, investments and assets,...

Is your investment in a cryptocurrency such as bitcoin triggering IRS FBAR reporting requirements for your tax return?  What are the potential...

If you have offshore bank accounts, investment accounts or assets you need to understand IRS FBAR requirements and your risks as a...

A recent court decision may provide taxpayers relief and protection from IRS collection of FBAR penalties based upon a 3 year statute...

Our offices have handled many cases recently of foreign nationals and spouses with offshore accounts and assets who were not aware of...

The IRS believes that virtual currencies such have Bitcoin have become a tool in tax evasion, and the agency is signalling more...

What are willful conduct and willful blindness in IRS FBAR audits and court cases?  It is important to begin with an understanding...

The US Court of Federal Claims found two US Canadian taxpayers fail to file FBARs resulting in summary judgment for the IRS. ...

Are you a foreign national living and working in San Diego?  Have you come into the US on an H1-B or other...

The failure to comply with IRS FBAR reporting requirements was part of the recent Manafort indictment, but it doesn't just apply to...

While facing a slew of federal charges including conspiracy against the United States the FBAR related charges will put Paul Manafort behind...

A recent case in the United States District Court for the Eastern District of Pennsylvania has turned the recent tide of IRS...

What is willful blindness in IRS FBAR cases and how is the IRS attempting to use this to make non-willful FBAR violators...

Jan Allen speaks on a national IRS FBAR panel tomorrow at 12:30 pm pacific time, 3:30 pm eastern.  The topic of the...

We often hear clients say "The IRS will never know about my offshore financial accounts and assets," with conviction as if they...

The Sixth District of the US Court of Appeals upheld requirement for IRS FBAR reporting recently.  The decision affirmed the actions of...

How can Allen Barron better protect you and your FBAR compliance issues with the IRS?  How can Allen Barron help you come...

There are still many US taxpayers who are in the process of understanding IRS FBAR compliance and the genuine risk their activities...

The IRS is closing in on US taxpayers with offshore accounts thanks to the global exchange of information which has been a...

Recently released IRS FBAR reporting notes detailed some interesting facts regarding FBAR filings since the program's inception in 2007.  In 2007 the...

IRS FBAR audits are heating up as offshore banking and taxpayer information pours into the IRS from offshore banks, financial institutions, investment...

What is the US tax impact of opening a foreign account for a US taxpayer including foreign nationals who live and work...

How does the IRS define willfulness in terms of IRS FBAR compliance?  When will the actions of a US taxpayer amount to...

What are the tax issues of working in San Diego on an H1-B Visa or living in the US as a foreign...

A major US financial newspaper today echoed Allen Barron's repeated warnings to offshore account holders to fear the IRS and impending IRS...

A new IRS Large Business & International (LB&I) campaign targets US taxpayers for IRS audits focused upon OVDP declines and withdrawls from...

On October 11, 2017 from noon to 2:00 pm pacific time, Jan Allen will speak on IRS FBAR and willfulness during a...

A Pennsylvania Court has denied motions by both parties to dismiss a high profile trial which may shed light on willful conduct...

If you live or work in the United States it is your responsibility to understand tax laws.  This is why Allen Barron...

Just a reminder that your IRS FBAR reporting is due along with your tax return on April 18th this year.  The Foreign...

It's been more than a year since the international "Panama Papers" scandal hit where 11.5 million documents disclosed the true owners of...

The US Treasury Department published the latest list of those who renounced their US citizenship in 2016.  The recent spike in renounced...

The world is still unpacking the impact of FATCA and the IRS' intent to track offshore bank accounts, investments and corporations.  The...

The Israel Supreme Court ruled that US citizens in Israel must comply with FBAR and all IRS reporting requirements and the consequences...

Argentinas offshore amnesty program nets $5.2 Billion in taxes after Argentinians disclosed over $90 Billion in previously hidden assets.  Under the law...

The recent case this month in the US District Court sends a clear message to US taxpayers: Make a full, transparent voluntary FBAR...

The US 9th District Court here in California has found that willful failure to file FBAR is a lesser standard of proof...

Why are there so many people who have used Turbo Tax and other home tax software solutions (including the free IRS version)...

The Organization for Economic Co-Operation and Development or OECD is comprised of 35 member nations including the United States, almost all of...

The penalties associated with non-compliance with the reporting of offshore accounts, assets and income to the IRS continue to escalate.  Many US...

The University of Rochester has gained unexpected notoriety recently as one of it's professors faces sentencing in a criminal tax evasion scheme....

The implementation of global forms of the US FATCA tax initiative, often referred to as GATCA (Global FATCA) continue to gain steam...

There are a lot of new acronyms in the world of international taxation.  What do CRS GATCA and the OECD have to...

The goal of financial transparency worldwide is gaining momentum.  The US FATCA initiative has spawned like legislation around the globe.  The benefit...

Just when many thought the wave of IRS focus on offshore accounts and investments had passed the next wave has reached our...

This week John Koskinen, IRS Commissioner, claimed success based upon FATCA driven voluntary disclosures by US taxapayers.  The IRS disclosed more than...

The IRS FBAR audits and prosecutions have begun and the clock is ticking for those who have yet to come into full...

Earlier this year the IRS, with the help of a US Bankruptcy Judge, successfully pierced a complex strategy by two Texas brothers Sam and...

Have you come into the San Diego area on an H1-B visa in order to work in one of our high tech...

The world is an ever-changing ever-evolving crucible of financial challenges for US expats.  Many in the US have threatened to "leave the...

We have advised foreign nationals living and working in the United States to come into compliance with IRS FBAR requirements for quite...

Did you file an application under the IRS Streamlined Domestic (Foreign) Offshore Procedures?  What happens if the IRS rejects your FBAR streamlined...

A storm is on the horizon for those who fail to report offshore financial activity to the IRS.  We are often asked...

Why should a foreign national working or residing in the US care about IRS FBAR compliance?  "None of my friends or associates...

In a technical legal move Bernhard Gubser, a dual US / Swiss citizen, asked the 5th Circuit Court to hear an appeal...

There continues to be confusion regarding what constitutes a willful or non-willful attempt to avoid US taxes as it relates to offshore...

Citizens and former residents of India face genuine tax issues while they live and work in the United States.  Many Non-Resident Indians...

Has the IRS decided to shut down the application process for the Streamlined Domestic Offshore Procedures under FBAR?  Streamlined applications for FBAR...

Many foreign nationals come to the US each year, often under an H1-B visa, in order to live and work.  It is important...

Our San Diego FBAR attorney helps foreign nationals comply with the IRS and fulfill offshore financial disclosures.  The penalties for US taxpayers...

It is a bitter pill to swallow.  There are fewer and fewer secrets.  The world is becoming much smaller for tax evasion...

Are you a foreign national living or working in the United States?  Allen Barron has important tax information for foreign nationals in...

Foreign nationals who reside in the United States and those who are here working on an H1-B visa are required to report...

For those who are residing or working in the United States it is important to understand foreign nationals must meet FBAR compliance...

A leading IRS National Taxpayer Advocate has issued her mid-year findings for 2016 last week.  The report is very critical on the...

The US Treasury Department and the IRS to propose changes to offshore business taxes and a practice known as "Inversion."  A hearing...

We are constantly being asked "Why do I have to worry about filing an FBAR in San Diego and what happens if...

It's official.  The FBAR audit warnings and IRS data mining you've been reading about in this space for the past several years...

If you had a financial interest in a foreign financial account, or signatory or authority over one or more accounts whose aggregate...

If you are a US expatriate or a taxpayer with offshore accounts, investments, assets or income you should be aware your IRS FBAR...

The IRS Offshore Audits Have Begun The IRS has begun the first round of offshore income, asset and bank account reporting audits,...

FATCA has completely changed the international financial landscape - from FBAR crackdowns to the "Panama Papers."  Recently, many people have asked "Is...

Don't be distracted by the US House of Representatives hearings where they are attempting to impeach IRS Commissioner John Koskinen.  The commissioner...

If you have offshore accounts, investments or assets and have not come into compliance with the IRS, you should contact the San...

Last week, the US Justice Department announced its first FATCA Legal Victory when it announced that Gregg R. Mulholland, owner of an offshore...

For all US taxpayers who have been watching developments in FATCA, FBAR reporting and the IRS Offshore Voluntary Disclosure Program or OVDP,...

A Texas court has dismissed a lawsuit against the IRS asserting that the IRS burden of proof to assess a $1.4M IRS...

One thing is clear about the massive release of additional documents in the "Panama Papers" scandal yesterday: It's only a matter of...

There is a lot about "disregarded entities" in the news recently due to a new ruling by the IRS in conjunction with...

IRS FBAR compliance ensures you disclose all information about offshore accounts, assets, balances and transactions before the IRS comes knocking on your...

There are very few safe tax havens left in the world, and the vast majority of the Swiss financial houses, banks and investment...

Why has the IRS questioned or outright rejected many of the applications under the Streamlined Domestic Offshore procedures?  How has the IRS...

Is it possible that a trust established under the laws of a US State such as California, with a US agent serving...

The IRS reports that it is receiving a vast amount of offshore account information from foreign banks, investment institutions and sovereign tax...

The IRS has made significant changes to the forms associated with the Streamlined Domestic Offshore Procedures, a voluntary disclosure to the US...

There will be no extension to the June 30 FBAR filing deadline for US taxpayers who are required to file an IRS...

Improving offshore reporting and FBAR compliacne associated with foreign bank accounts, investments and income remains a top priority for the IRS according...

I hear it often - from dinner parties to fellow travelers to those who simply call for advice: "I didn't know I needed...

In the past few days, news of the "Panama Papers" has revealed more than 11 million documents which contain private offshore banking...

We have been at the forefront of the IRS crackdown on offshore bank accounts, foreign investments and corporate ownership and the requirement...

What are the risks and penalties of not making a full offshore disclosure to the IRS?  What happens if you have not...

Yesterday, we discussed the rapidly rising number of “Report of Foreign Bank and Financial Reports” or FBARs filed in 2015.  This continues a...

The IRS has reported that the number of "Report of Foreign Bank and Financial Reports" or FBARs filed in 2015 is up...

The tax complications of international and offshore investments are quite complex, and US taxpayers with offshore investments and accounts should contact the...

How Many US taxpayers still need to file offshore disclosures and FBARs with the IRS?  Should those who have not yet filed...

What are some of the tax implications of marrying a non-US citizen or permanent resident?  What are some of the hidden issues...

The IRS continues to add more and more international banks, financial and investment firms to its list of 50% OVDP penalty institutions...

What are the tax implications of offshore investments, bank accounts and foreign corporate ownership?  Allen Barron is uniquely positioned to provide expert...

US taxpayers must be aware of the complications of offshore investment accounts as they relate to tax liability and the ramifications of...

This is the last year that the Report of Foreign Bank and Financial Accounts, or FBAR, will be due to the IRS...

The IRS has added 7 more Swiss banks to the 50% OVDP Penalty List in December, and now more than 100 Swiss...

The Offshore voluntary disclosure program or OVDP is by far the safest way to come into compliance with offshore bank account, investment...

Allen Barron provides extensive tax expertise and assistance with FBAR Preparation, Filing and Compliance.  If you have offshore bank accounts, investments, assets...

The IRS has been quite clear in recent publications that a "quiet" disclosure of offshore bank accounts and assets not previously reported...