IRS Wins Foreign Account Case Over Former Mobil Senior Executive
IRS (Internal Revenue Service) has achieved a great victory over the former Mobil senior executive Bryan Williams. He was alleged in a case of offshore tax evasion. He concealed foreign bank accounts of him holding millions from IRS. In between 1993 and 2000 this former executive opened two Swiss offshore […]
Will Mitt Romney (Republican) File for OVDI 2012 ?
The easiest way to evade tax and pile personal savings is to tuck away money in offshore / overseas accounts. Mitt Romney, the republican presidential candidate is currently enjoying attention for having put away his ‘vast wealth’ into overseas establishments. However it is not Romney alone, who stocks money in […]
FBAR Solutions for Indo American Citizens and Residents
American Indians are curious to learn how FBAR impacts their investment in India and Other countries. Many Indo American tax payers are still unaware of new US regulations and those who do know about FBAR regulations are still wondering of they are required to file FBAR or not. In a […]
Offshore Disclosure Program Makes $5 Billion (Infographics)
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 […]
Do I need to file FBAR if I didn’t earn any interest ?
Recently a gentleman asked a simple question,”Do i need to file FBAR ?”. And we asked him few other questions: Do you live in United States (Citizen, Green Card Holder, H1 or any other kind of visa) ? Do you have an kind of foreign account ? At any given time, did […]
FBAR | Forign Bank Account Reporting: June 30th 2012
FBAR | Forign Bank Account Reporting Deadline June 30th 2012 If you live in San Francisco Bay Area, you must have heard Sanjiv Gupta CPA talk about FBAR filing. Sanjiv has been explaining FBAR on TV and Radio for last couple years. We have talked about FBAR on our blog […]