http://www.hodgen.com/new-fbar-amnesty-faq-will-be-coming-soon/ International and US Tax Law Fri, 03 Sep 2010 03:45:22 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.hodgen.com/new-fbar-amnesty-faq-will-be-coming-soon/comment-page-1/#comment-19 FBAR Thu, 04 Jun 2009 22:07:27 +0000 http://www.hodgen.com/?p=884#comment-19 Phil...I can see why they are running to pay their taxes! The IRS latest rhetoric is that they know there is a significant amount of non-compliance in the FBAR area. I believe the potential penalties can be devastating and the recently announced Voluntary Disclosure initiative could greatly reduce the penalties (compared to what may result if taxpayers don’t come forward and are identified by the IRS). Please let us know when the 2nd FAQ comes out. Phil…I can see why they are running to pay their taxes! The IRS latest rhetoric is that they know there is a significant amount of non-compliance in the FBAR area. I believe the potential penalties can be devastating and the recently announced Voluntary Disclosure initiative could greatly reduce the penalties (compared to what may result if taxpayers don’t come forward and are identified by the IRS).
Please let us know when the 2nd FAQ comes out.

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