FBAR | Gordon Law Group

FBAR

Foreign Bank Account Reporting Requirements

Any individual or business with assets north of US $10,000 must annually declare holdings to the feds. It’s known as the Foreign Bank Account Report. If you’re unfamiliar with FBAR rules and regulation, contact our team. We’ll walk you through the process and develop a plan to make amends for delinquent reporting requirements.

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IRS Voluntary Disclosure Program

The IRS Voluntary Disclosure Program (VDP) gives taxpayers a chance to avoid criminal tax charges by submitting their late or corrected tax returns and agreeing to pay the penalties.

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FBAR Penalty: Non-Filing and Other Violations

The FBAR penalty—whether you fail to file or file inaccurately—can be serious, including hefty fines or even jail time. It depends on your situation, but even accidental violations can lead to harsh punishments.

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FBAR Filing Requirements

Everything you need to know about FBAR Filing Requirements: Who needs to file, what types of accounts qualify, & what to do if you haven't filed FBARs.

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Tax Law: Accidental Americans international tax amnesty

Tax Help for “Accidental Americans”

EU representatives sent a letter to the United States urging a new plan for people caught in a cross-border tax web. Will the US listen and comply?

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FBAR Law: IRS Sues woman for FBAR violations

Overseas Account Cautionary Tale

Anyone with overseas accounts must file an annual FBAR report. Click through to read about a taxpayer who failed to do so and got sued for over a million.

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Doctor May Be Dinged Millions Over POA Mess

Here's the story of a doctor from Florida who failed to file FBAR reports. Now she could be out millions. We discuss the case and implications.

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FBAR: “I Didn’t Know” Doesn’t Work

Many people think they can get away with the "I didn't know!" defense when hit with an FBAR violation claim. But it usually doesn't work.

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FBAR Law: What happens when you don't comply

Cautionary Tale About Not Reporting Offshore Funds

Taxpayers with money in overseas accounts MUST report it to Uncle Sam every year. This is a story of what happens when you fail to comply.

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FBAR Law: work signatories

You May Need To File FBAR Paperwork

You have signatory authority for an overseas work account worth more than $10,000. That means you must file FBAR paperwork with the federal government.

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