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Many Swiss Banks are an Automatic 50% FBAR Penalty

By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, June 15, 2015. The IRS has generated a list of banks, many of whom are Swiss, who have participated in actively helping US taxpayers to shelter money and income from the IRS.  If you have...

Yes, Failure to Report Foreign Bank Accounts Can Lead to Jail

By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, June 3, 2015. Do you really need to be concerned with how you submit your application to the Offshore Voluntary Disclosure Program (OVDP) or the streamlined option within it?  The IRS will simply accept a...