Tax Return Preparers Face IRS Scrutiny and Criminal Prosecution for Assisting in Income Tax Evasion By Not Disclosing Clients’ Foreign Income And Foreign Accounts.
The U.S. tax laws require that U.S. taxpayers must report their worldwide income, regardless of whether they are living in the U.S. or abroad. In addition all U.S. taxpayers who have an interest in, or signatory or other authority over a bank, securities or other similar foreign accounts must file FinCEN Form 114, Report of […]