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What Constitutes Willful Conduct From the Perspective of the IRS

What is it that constitutes willful conduct from the perspective of the IRS as it relates to offshore financial activities and the FBAR?  This question is at the heart of compliance for US taxpayers with offshore accounts and assets.  The difference in that legal distinction represents an exponential difference in...

Investment in a Foreign Trust Creates Complex Reporting Requirements

The IRS has clearly identified legitimate reasons why "US Persons" would establish or maintain ownership in a foreign trust.  However, there are significant and complex tax reporting requirements associated with US taxpayers who are beneficiaries with an investment in a foreign trust.  There are specific transactional reporting requirements for those...

FBAR Preparation and Filing to Ensure Compliance

Allen Barron provides extensive tax expertise and assistance with FBAR preparation and filing to ensure compliance with all IRS requirements.  If you have offshore bank accounts, investments, assets or own or control a portion of a foreign corporation you must be in full compliance with the IRS or face a...