by Igor Drabkin | Jan 25, 2017 | FBAR, Internal Revenue Service
Beginning this year, reporting for the 2016 calendar year, the due date for filing Foreign Bank Account Reports (FBAR) changes from June 30th (which applied to all the previous tax years) to the same filing deadline as individual income tax returns, April 15. Like... 
by Igor Drabkin | Nov 2, 2016 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On October 21, 2016, the IRS issued a news release, announcing new data on the Offshore Voluntary Disclosure Procedures, which were put in place by the IRS in order to bring taxpayers with undisclosed foreign accounts and offshore assets into compliance. According to... 
by Igor Drabkin | Sep 24, 2015 | FBAR, Offshore Income
In a sign that the U.S. tax authorities are expanding their fight against secret offshore bank accounts, on September 16, 2015, a federal district court in Miami, Florida, granted a petition of the U.S. Department of Justice to issue IRS summonses to two Belize banks,... 
by Igor Drabkin | Aug 21, 2015 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
We have blogged about important cases related to crackdown on offshore accounts, involving US taxpayers and foreign bankers. In a recent case, the government prosecuted two tax return preparers with offices located in California, Maryland and New York, for assisting... 
by Igor Drabkin | Jul 10, 2015 | FBAR, Internal Revenue Service, Offshore Income
We have previously posted news about more foreign banks reaching non-prosecution agreements with the Department of Justice, resulting in the turn over of U.S. account holders’ information to the U.S. authorities. In fact, the list of the banks on the IRS list...