Difference between revisions of "A Reputation Taxes - Part 1"
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Revision as of 15:45, 4 October 2024
Note: Mcdougal is not really CPA or tax qualified. This article is for general information purposes, and really should not be construed as tax aid. Readers are strongly inspired to consult their tax professional regarding their personal tax situation.
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In 2011, the IRS in conjunction with Congress, have made a decision to have a more rigorous disclosure policy on foreign incomes that includes a new FBAR form demands more detailed disclosure information and 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 to help fill form FBAR in past years. Conscientious decisions to be able to fill out the FBAR form will result a punitive charge of $100,000 or 50% of the value the actual planet foreign account for the year not suffered.
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