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Version vom 26. Februar 2025, 22:35 Uhr
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In 2011, the IRS in conjunction with Congress, have decided to have a more rigorous disclosure policy on foreign incomes which includes a new FBAR form that requires more detailed disclosure info. However, the IRS is yet to secrete this new FBAR shape. There is also an amnesty in place until August 31st 2011 for taxpayers who did not fill form FBAR combined years. Conscientious decisions not knowing fill the FBAR form will result a punitive charge of $100,000 or 50% for the value the actual foreign be the reason for the year not documented.
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