In this cool inforgraphics, you can easily see why FBAR is such a big deal.  IRS has made over $5 billion dollars from off shore volunteer disclosure scheme. That is lots of money.  So far only 33,000 people have come cleaned using OBDI. This leaves lots of room for IRS to grow their OBDI program.  IRS is also hiring more agents to ensure better compliance while slowly increasing the penalties for those ignoring the law.

 

About Deepak Sharma

Deepak Sharma is a business consultant helping entrepreneurs and small business owners with IT, Business Analysis, Strategy, Marketing, Advertising, PR and Business Plans.