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Posts Tagged Milwaukee tax attorney

Huge Data Breach Threatens Unreported Account Holders Worldwide – FBAR Post

by Brian Mahany Headlines around the world carried the story – in one of the most massive data breaches of the new millenium, the Washington DC based International Consortium of Investigative Journalists managed to obtain confidential financial records containing  the names of people with offshore accounts. According to Canada’s CBC News, the records contain information [...]

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Indian Business Man Prosecuted For Unreported HSBC India Account (FBAR Post)

by Brian Mahany Although all the media attention on unreported foreign accounts appears to focused on Switzerland, the Justice Department and IRS continue to look worldwide for U.S. taxpayers with undeclared offshore accounts. According to a press release from the United States Attorney’s Office, Sameer Gupta pleaded guilty last week to one count of tax [...]

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Outrageous IRS FBAR Penalty? You Bet!

by Brian Mahany A few months ago, a reader of Due Diligence wrote to us and said we were being “alarmist.” Many readers can’t fathom how the government can and will impose huge penalties against taxpayers with unreported offshore accounts. Unlike other IRS penalties, those imposed on undeclared foreign bank accounts are based on the asset value [...]

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