Offshore Business - Pay Low Tax: Difference between revisions
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Revision as of 15:34, 22 September 2024
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In 2011, the IRS in addition to Congress, made their minds up to have a more rigorous disclosure policy on foreign incomes that features a new FBAR form demands more detailed disclosure of information. However, the IRS is yet to produce this new FBAR shape. There is also an amnesty in place until August 31st 2011 for taxpayers who fill form FBAR in past years. Conscientious decisions not to ever fill the actual FBAR form will result a punitive charge of $100,000 or 50% belonging to the value on the foreign take into account the year not reported.
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