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2017 FBAR Currency Conversion Rates | FBAR Lawyer and Attorney

Using proper currency conversion rates is a very important part of preparing 2017 FBAR and 2017 Form 8938. The instructions to both forms require (in case of FATCA Form 8938, this is the default choice) US taxpayers to use the 2017 FBAR Currency Conversion Rates published by the Treasury Department. The 2017 FBAR Currency Conversion […]

Streamlined Domestic Disclosure: Main Advantages | SDOP Attorney

At this point, Streamlined Domestic Offshore Procedures (“Streamlined Domestic Disclosure”) is undoubtedly the most popular offshore voluntary disclosure option. Let’s explore three main reasons for this preference of Streamlined Domestic Disclosure among US taxpayers. Streamlined Domestic Disclosure: Background Information and General Requirements The IRS created the Streamlined Domestic Disclosure as an offshore voluntary disclosure option […]

2018 Post-OVDP Options | Foreign Accounts IRS Lawyer & Attorney

In a previous article, I discussed the recent IRS announcement with respect to the closure of the IRS Offshore Voluntary Disclosure Program (“OVDP”) on September 28, 2018. Today, I would like to predict the range of the 2018 post-OVDP options for offshore voluntary disclosures starting October of 2018. 2018 Post-OVDP Options: Streamlined Compliance Procedures As […]

IRS OVDP to End on September 28, 2018 | US OVDP Tax Law Firm

On March 13, 2018, the IRS announced that it will be closing its flagship 2014 Offshore Voluntary Disclosure (“OVDP”) program on September 28, 2018. The closure of the IRS OVDP was already predicted by Sherayzen Law Office last year. Let’s analyze further this important development. Historical Overview of the IRS OVDP I already provided a […]

IRS Increases Interest Rates for the Second Quarter of 2018

On March 7, 2018, the Internal Revenue Service announced that the IRS underpayment and overpayment interest rates have increased for the second quarter of 2018. The second quarter of 2018 begins on April 1, 2018 and ends on June 30, 2018. The second quarter of 2018 IRS interest rates will increase by one percent and […]