Feigenbaum Law

FBAR

Voluntary disclosure

Corporate Tax Planning

The End of IRS’ Voluntary Disclosure Program is Imminent

Earlier this year, the Internal Revenue Service (IRS) announced that it would begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and the program would be fully closed by September 28, 2018. The Offshore Voluntary Disclosure Program The OVDP initially launched in 2009, with a second program offered in 2011, and then 2012. The current program launched in 2014. These voluntary disclosure programs have enabled American taxpayers… Read More

Real estate tax

Corporate Tax Planning

Current Developments Affecting The Foreign Bank Reporting Form (FBAR) And Filing Requirements

An interesting tax case regarding the Foreign Bank Accounts Reporting Form (FBAR) and the associated penalty for non-filing has been prominent in the news recently. The Report of Foreign Bank and Financial Accounts filing requirement was introduced by the Currency and Foreign Transactions Reporting Act of 1970, also identified as the Bank Secrecy Act (Title 31 of the United States Code). The purpose of the requirement is to obtain information that would be useful in… Read More