Difference between revisions of "Smart Tax Saving Tips"

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Revision as of 22:38, 26 October 2025

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In 2011, the IRS in addition to Congress, have decided to have a more rigorous disclosure policy on foreign incomes that includes a new FBAR form demands more detailed disclosure facts. However, the IRS is yet to create this new FBAR form. There is also an amnesty in place until August 31st 2011 for taxpayers who did not fill form FBAR in past years. Conscientious decisions to not fill the FBAR form will result a punitive charge of $100,000 or 50% of your value in foreign be aware of the year not stated.

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