July 2012 - Sherayzen Law Office

17 July 2012
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FBAR Criminal Penalties

17 July 2012, Comments: 0

When it comes to penalties, Form TD F 90-22.1, Report on Foreign Bank and Financial Accounts (commonly known as FBAR), is one of the [...]


15 July 2012
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IRS Audit of Offshore Accounts and Other Foreign Assets: Potential Penalties

15 July 2012, Comments: 0

Failure to do timely voluntary disclosure may expose non-compliant U.S. taxpayers with foreign bank and financial accounts to tremendous amount of audit penalties. In [...]


14 July 2012
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2012 OVDP vs. 2011 OVDI: Five Key Differences

14 July 2012, Comments: 10

On June 26, 2012, the IRS published the instructions for the 2012 Offshore Voluntary Disclosure Program (“OVDP”). The program was originally announced on January [...]