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  • NEW STREAMLINED FILING PROCEDURES FOR UNDISCLOSED FOREIGN FINANCIAL ACCOUNTS EXPLAINED

    NEW STREAMLINED FILING PROCEDURES FOR UNDISCLOSED FOREIGN FINANCIAL ACCOUNTS EXPLAINED

    The 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP whichThe 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP whichThe 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP whichThe 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP whichThe 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP whichThe 5% penalty Streamlined Filing Procedures for undisclosed foreign bank accounts and assets was modified and is now available for domestic taxpayers with foreign accounts. It’s available only to taxpayers who’s failure to file an FBAR was due to non-willful conduct. For willful conduct, a taxpayer would be better advised to join the OVDP which