September 3rd, 2012 FBAR, fbar case by Deepak Sharma

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 in order to hush up [...]

August 5th, 2012 FBAR, ovdi by Deepak Sharma

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 Swiss bank accounts, provides fund [...]

July 15th, 2012 FBAR, Video by Deepak Sharma

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 recent interview online Sanjiv Gupta [...]

June 30th, 2012 FBAR, obdi, offshore volunteer disclosure by Deepak Sharma

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. [...]

April 29th, 2012 FBAR by Deepak Sharma

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 you have more than $10K [...]

April 12th, 2012 FBAR by Deepak Sharma

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 a lot as well.  None [...]