...of foreign bank or financial account (FBAR) relating to his undeclared bank accounts for the calendar years 2004-2009, during which the accounts had the highest balance. We expect that HSBC...
Foreign bank account reports (FBARs) for 2010 are due on June 30, 2011 (and no extension is available). Recent guidance provides insight into who is required to file an FBAR...
...back taxes and interest, as well as accuracy-related penalties. Under the regular FBAR rules, a taxpayer could pay up to 50% of the highest amount in each account for each...
...a period of five years. The FBAR has become a difficult and comprehensive reporting requirement for individuals with foreign accounts. The penalties for failuer to file an FBAR are extrememly...
...the statute of limitations for assessing tax (including tax penalties) and to assess FBAR penalties. For additional information, contact Parag Patel of Patel Law Offices at 732-623-9800 or visit us...
...90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), should not use the OVDI, but rather are advised by the IRS to just file the delinquent FBAR reports and attach...
