FBAR Amnesty - 2020 IRS Options for Penalty Mitigation using FBAR Voluntary Disclosure Programs.

https://www.goldinglawyers.com

FBAR Amnesty

The IRS has developed multiple FBAR Amnesty options These options assist U.S. taxpayers with getting into offshore compliance. Generally, international tax compliance involves IRS Offshore Disclosure of unreported foreign accounts, assets, or investments. The FBAR penalties for unreported foreign accounts can be substantial. Penalties can be civil or criminal, and willful or non-willful. Golding & Golding is an International Tax Law Firm. Our Team is led by a Board Certified Tax Lawyer Specialist, and our FBAR Lawyers have worked with thousands of clients across the globe.

Penalties for Civil FBAR can be Broken down into two (2) categories:
-Willful FBAR Penalties
-Non-Willful FBAR Penalties

Non-Willful FBAR Penalties

These FBAR Penalties are typically the least severe penalties. An FBAR non-willful penalty is a "lower-level" penalty for not filing the FBAR. The non-willful penalties can be high, BUT, typically they are not as high as willful penalties.

Willful FBAR Penalties and (Reduced) Willfulness

The Willful FBAR Penalty is typically more severe. An FBAR Willful Penalty is penalty for acting willful, willfully blind, or with reckless disregard in not filing the FBAR.

We have provided detailed explanations and analyses in our free International Tax Law library about these different terms, and what they mean.Criminal Fines & Penalties

Criminal FBAR Penalties may include monetary penalties and incarceration. This is when the IRS refers the matter to the Department of Justice (DOJ) or other 3 letter government faction for criminal investigation and possible prosecution.

These are not very common, but unfortunately they are on the rise.

Видео FBAR Amnesty - 2020 IRS Options for Penalty Mitigation using FBAR Voluntary Disclosure Programs. канала Golding & Golding International Tax Lawyers