Americans with Israeli Bank Accounts- Under Heightened Scrutiny in 2014

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Americans with Israeli bank or other financial accounts could…

Report of Foreign Bank and Financial Accounts (FBAR) Filing Limits

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In addition to annual income tax forms, certain taxpayers are…

“Quiet Disclosure” of Foreign Accounts- Not So Quiet As It Seems

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There are strong indications that going forward, the IRS will…

Considerations in Opting Out of the OVDI

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IRS has established programs for taxpayers to voluntarily come…

U.S. Taxpayer Worldwide Income Reporting Requirements

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Many U.S. taxpayers do not realize that they must report their…

Eliminating Tax Penalties Due to Reasonable Cause

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If you have made a mistake on your tax return that is later discovered…

The Essential Records to Have for a Tax Audit

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If you are getting ready for a tax audit, one of the most important…

The Importance of Avoiding Tax Liens

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If you have recently received notice that there is a tax lien…

Time Limits on IRS Collection Efforts

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Once you have an assessment our outstanding balance with IRS,…

Appealing the Results of a Tax Audit

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Every taxpayer who is being examined in a tax audit has the right…

What to do if you failed to declare your closed foreign bank account that was open within the last six years?

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Even though you may have closed your foreign accounts years ago,…