Category: Money and Bank

IRS Pursues FBAR Foreign Bank Account Reporting of U.S. Taxpayers

Undisclosed Offshore Accounts are being hunted down with FBAR (Foreign Bank Account Reporting) information requests of U.S. Taxpayers suspected of hiding assets in the wake of the UBS AG fallout and IRS Offshore Settlement Initiative. What is in store for undisclosed account holders? In 2009, the IRS and U.S. Department of Justice commenced a highly…

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