$500K FBAR Penalty Upheld by District Court: What Taxpayers Should Know
December 11, 2025
A District Court recently affirmed that a taxpayer who failed to file multiple years of required Reports of Foreign Bank and Financial Accounts (FBARs) must
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SCOTUS to Hear Consequential FBAR Penalty Case
August 19, 2022
The United States Supreme Court is set to hear Bittner v. U.S. in November 2022, a case regarding penalties on Foreign Bank Account Reports, known
IRS Announces Updated Disclosure Procedures
January 24, 2019
On November 29, 2018, the Internal Revenue Service (IRS) unveiled its updated Voluntary Disclosure Program, following the conclusion of the Offshore Voluntary Disclosure Program (OVDP)
IRS to End Offshore Voluntary Compliance Program September 28, 2018
September 4, 2018
On September 4, 2018, the Internal Revenue Service issued a reminder that taxpayers with undisclosed foreign financial assets have until September 28, 2018, to file
IRS OVDP To Shut Down in September
April 2, 2018
The IRS has announced that it will shut down the Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. The OVDP, which started in 2009,