Foreign Bank Account Reporting (FBAR) Is Serious Business.

FBAR Filing - the Devil is in the Details

We offer free FBAR assessments to help you navigate the murky waters of compliance. 

FBAR reporting has been a focal point of the IRS for over 10 years. It takes very seriously the reporting obligations, both domestic and abroad. You do not want to be on the wrong side of FBAR compliance. While the general rules appear straightforward, there are many nuances to be aware of. This is not an area of the tax law to make a misstep.

The penalty regimes are simply too harsh. They include penalties assessed on a per foreign account or per FBAR basis, depending on what jurisdiction you live in, and they range from over $10,000 to upwards of $100,000 or more. There is also the possibility of criminal prosecution for those the IRS thinks are "bad actors", serious indeed.

There are avenues for relief, however. Properly prepared disclosures and a credible, well-documented Statement of Reasons can make all the difference. Together with good advocacy, you can insulate yourself from maximum penalties, examination, and even criminal investigations. The Partners at Webb & Morton have many years of experience protecting taxpayers in the area of foreign tax compliance, FBAR reporting and disclosures, and FBAR defense.