Foreign crypto may soon be very visible to the IRS. Currently, IRS has almost no automatic visibility into foreign crypto ...

The US government has implemented multiple measures to curb tax evasion and ensure proper reporting of overseas assets. Two key regulations central to these efforts are the Foreign Bank and Financial ...

Stephanie S. Vogel, left, and John W. Schmehl, right, of Dilworth Paxson. Courtesy photos. As Benjamin Franklin wisely observed, "In this world, nothing is certain except death and taxes." For U.S.

Under the Bank Secrecy Act, U.S. taxpayers must file an FBAR (FinCEN Form 114) if their foreign financial account balances exceed $10,000 in aggregate at any point during a calendar year. A failure to ...

FBAR non-willful penalties are now "per-form," not per-account. At the Tax Law Offices of David W. Klasing, our skilled dual-licensed tax attorneys and CPAs can help you file your FBARs properly in ...