Bloomberg reports the IRS is setting its sights on unreported foreign retirement plans. Most of the world is finally catching on that the IRS is serious about unreported offshore bank accounts. Many other countries are racing towards greater exchange of financial information and transparency too. Unfortunately, compliance remains very low when dealing with foreign retirement […]
Ominous Storm Clouds Gather for Those with Unreported Overseas Accounts
[Post updated June 2019] I feel like a broken record lately about the current IRS offshore tax amnesty (called the Offshore Voluntary Disclosure Initiative). I keep writing about it because people keep calling with questions. Invariably, we are asked “will I get caught if I don’t report?” There is no easy answer to that. Surprisingly […]