It’s that time of year again. Various football teams scramble at the end of the regular season for a chance at the playoffs. And with each game’s conclusion spectators get an updated “playoff picture” ...

Certain individuals who have only signature authority over non-US financial accounts now have until April 15, 2023 to file the Report of Foreign Bank and Financial Accounts. This extended filing ...

The U.S. Supreme Court held Tuesday in a 5-4 decision that the $10,000 penalty for a nonwillful failure to file a Report of Foreign Bank and Financial Accounts (FBAR) for foreign accounts accrues per ...

U.S. persons who have more than $10,000 in foreign bank accounts at any time in a tax year must report those accounts to the government on an FBAR. The failure to timely and properly file an FBAR can ...

A recent U.S. District Court decision considered whether penalties for disclosing a foreign bank account survives the death of the account’s owner (U.S. v Gaynor, Case No.: 2:21-cv-382-JLB-KCD (Sept.

In Boyd, the taxpayer first disclosed her interest in several financial accounts located in the United Kingdom in connection with her participation in the IRS's 2012 Offshore Voluntary Disclosure ...