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This article is an update of prior articles on the FBAR Civil Penalties. Since the US Congress mandated the IRS to adjust FBAR civil penalties for inflation on an annual basis, this article discusses the year 2024 FBAR Civil Penalties. 2024 FBAR Civil Penalties: Overview of the FBAR Penalty System FinCEN Form 114, the Report of Foreign Bank and […]
If you reside in Denver, Colorado, and have unreported foreign bank and financial accounts, you may be looking for a Denver FBAR Tax Attorney. Sherayzen Law Office, Ltd. is a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent FBARs, and you should consider us in your search. Let’s understand why this is the case. Denver […]
On May 9, 2024, the IRS announced that the Third Quarter 2024 IRS interest rates on overpayment and underpayment of tax will remain the same as in the Second Quarter of 2024. This means that, the Third Quarter 2024 IRS interest rates will be as follows: Internal Revenue Code (“IRC”) §6621 establishes the IRS interest rates on overpayments and underpayments of tax. Under §6621(a)(1), the […]
On February 29, 2024, the IRS announced a major update to one of its compliance campaigns that focuses on high income non-filer taxpayers. Let’s discuss this major update to the High Income Non-filer IRS Campaign in more detail. High Income Non-Filer IRS Campaign: Background Information As part of its extensive tax enforcement planning in the […]
If you reside in Garland, Texas and have unreported foreign bank and financial accounts, you may be looking for a Garland FBAR Attorney. Sherayzen Law Office, Ltd. is a leader in FBAR compliance, including offshore voluntary disclosures concerning delinquent FBARs, consider us in your search. Let’s understand why this is the case. Garland FBAR Attorney: International Tax Lawyer First of […]