Why Should You File Past Years Taxes Online: Difference between revisions
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Revision as of 18:49, 4 October 2024
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In 2011, the IRS in addition to Congress, have made a decision to have a more rigorous disclosure policy on foreign incomes that features a new FBAR form that needs more detailed disclosure details. However, the IRS is yet release a this new FBAR variation. There is also an amnesty in place until August 31st 2011 for taxpayers who fill form FBAR combined years. Conscientious decisions to not fill the FBAR form will result a punitive charge of $100,000 or 50% of the value in the foreign take into account the year not stated.
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