FBAR Penalty: IRS Has No Sympathy for Taxpayer When Accountants’ Made Continual Errors

By now readers of my blog know of the possible draconian penalties that can be assessed for failure to file a so-called FBAR (Report of Foreign Bank and […]

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OVDP and Streamlined Efforts Net $10 Billion & Over 100,000 Taxpayers

The Internal Revenue Service (IRS) announced on October 21, the results of updated “Offshore Voluntary Compliance Program” (OVDP) and Streamlined Procedure data.   Since the inception of the OVDP […]

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Late Tax Returns – IRS Denies Foreign Earned Income and Housing Exclusions

Most Americans working abroad know they may be eligible to exclude certain foreign earned income (wages, compensation for services) and housing amounts from US taxable income.  This means […]

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IRS Revised the “Streamlined” Foreign and Domestic Certification Forms

Important Update: IRS recently revised the Foreign and Domestic certification forms for the Streamlined Procedures (Form 14653, here, and Form 14654, here) . Among other changes there is […]

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Streamlined Foreign Offshore – Latest Scoop!

Many of you may already be quite familiar with the Internal Revenue Service (IRS) “Streamlined” programs permitting far more practical methods of achieving tax compliance for US persons […]

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