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Category: tax reporting

The Benefits of IRS’s Streamlined Procedures for Reporting Foreign Accounts

Given its limited resources and ability to detect foreign assets, accounts and income, the IRS has offered various voluntary programs to entice taxpayers to come clean and report this information. The IRS’s OVDP program and the more recent streamlined procedures are two examples. The Maze v. Internal Revenue Service, Nos. 15-1806 (D.D.C. 2016), highlights several[…]

The post The Benefits of IRS’s Streamlined Procedures for Reporting Foreign Accounts appeared first on Houston Tax Attorney: Texas Lawyer.

Published August 4, 2016
Categorized as FBAR, foreign account, foreign bank account, Recordkeeping, Tax Blog, Tax Law Blog, tax reporting

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