Jeffrey S Freeman JD LLM
Address 1:
2051 VILLA ROAD
BIRMINGHAM, MICHIGAN 48009
Phone:
(248) 203-9100
Email:
Description:
Tax Attorney
Penalties for Failing to Comply With FBAR Requirements
By Jeffrey S. Freeman, J.D., LL.M
For over 40 years, the I.R.S. has required that any U.S. person,” including U.S. citizens, residents, partnerships, corporations, trusts, and estates with a financial or signatory interest in an account in a foreign financial institution file a Foreign Bank and Financial Accounts Report if the account has a balance of at least $10,000 at any given time in a year. The FBAR requirement is intended to provide information that assists government agents in investigating international crimes such as money laundering and terrorism, as well as helping to track unreported income.
Category:
Law Offices