Tax Law

Recent Posts

Reporting Specified Financial Assets and Form 8938
Posted on 18 Dec 2012 by Neil Aragones

U.S. taxpayers with assets overseas and their advisers should be mindful of new Form 8938, Statement of Specified Foreign Financial Assets , as they prepare the taxpayers' federal income tax returns for 2011. Temporary Regulations issued in December... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 18 Dec 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 1 Mar 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

Sutherland Legal Alert: FinCEN Extends Due Date for Certain FBAR Filers
Posted on 1 Mar 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase and Amanda Pugh On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial... Read More

Reporting Specified Financial Assets and Form 8938
Posted on 3 Apr 2012 by Neil Aragones

U.S. taxpayers with assets overseas and their advisers should be mindful of new Form 8938, Statement of Specified Foreign Financial Assets , as they prepare the taxpayers' federal income tax returns for 2011. Temporary Regulations issued in December... Read More

What You Should Know About FBAR Penalty Mitigation
Posted on 1 Mar 2012 by Karen Yip

By Karen Yip, LexisNexis Federal & International Tax Analyst The IRS requires the Report of Foreign Bank and Financial Accounts, TD F 90-22.1 (commonly known as the Foreign Bank Account Report, or "FBAR"), when a U.S. person has a financial... Read More

Sutherland Legal Alert: FinCEN Extends Due Date for Certain FBAR Filers
Posted on 1 Mar 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase and Amanda Pugh On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial... Read More

Williams Mullen: IRS Announces a Second Voluntary Offshore Disclosure Initiative
Posted on 27 Mar 2011 by Williams Mullen

By: Sean M. King , Matthew C. Marshall & Jeffrey D. Chadwick The IRS announced a voluntary disclosure initiative for taxpayers with undisclosed foreign financial accounts. It applies to both individuals and entities who make timely, accurate... Read More