On April 2, 2009, the IRS announced they will reduce the penalty for not filing a Report of Foreign Bank and Financial Account, known as a FBAR Form. The current penalty is up to fifty percent (50%) of the highest annual balance of each account for each of the last 3 years. The 50% penalty … Read more
What caused the Financial Melt Down? The first step to extricating ourselves from this financial mess is to understand what happened. I happened to have a front row seat to the collapse and I intend to share with you exactly what I believe caused this disaster. I am a licensed real estate agent and I … Read more
Offshore International Today Aug 2011 Lance Wallach You may want to think about participation in the IRS’ offshore tax amnestyprogram (called the Offshore Voluntary Disclosure Initiative). Do you want to play audit roulette with the IRS? Some clients think they are too small to be prosecuted. They are wrong. To the average businessperson, only … Read more
The actual global markets are interconnected and depend significantly on the monetary and macroeconomic data. The Forex marketplace is not very. Currency rates — the basic devices from the foreign exchange marketplace or are influenced by the by major monetary news, basic record reviews and essential geopolitical occasions. But absolutely nothing even compares to viewing … Read more
On April 2, 2009 the U.S. Treasury rolled out a Voluntary Disclosure program (expiring on September 22, 2009). The goal of this program is to bring into the fold undisclosed foreign bank accounts and with them, a lot of tax revenue. The voluntary disclosure program is confiscatory and will be a tough pill to swallow … Read more