Foreign Accounts Compliance, 2017 ed.

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The Internal Revenue Service (IRS), at the behest of Congress, has in recent years been endeavoring to discover U.S. taxpayers' noncompliant foreign accounts. Such taxpayers face draconian civil penalties and even criminal prosecution if the IRS discovers such financial accounts before they are voluntarily disclosed to the IRS. Foreign Accounts Compliance fills a void of published authority on U.S. taxpayers' foreign financial accounts.

Features and benefits include:

Help in developing your practice representing U.S. taxpayers in complying with law for foreign financial accounts
Guidance to deal with the tax compliance needs of immigrants – educated professionals who left financial accounts in their native country, or inherited accounts there after immigrating to the U.S.
Aid in directing U.S. taxpayers to voluntarily disclose their foreign financial accounts before the IRS discovers their accounts and imposes penalties or brings criminal charges

Features

Compliance with U.S. law concerning foreign financial accounts is a booming, lucrative practice area.
U.S. taxpayers face unrelenting efforts by the IRS to discover their foreign financial accounts, civil penalties and even criminal prosecution if the IRS discovers their foreign financial accounts before they are voluntarily disclosed to the IRS.
This book can help you develop your practice representing U.S. taxpayers in complying with U.S. law concerning foreign financial accounts.
The strong tide of immigrations to the U.S. shows no signs of subsiding. Many of these U.S. taxpayers are educated professionals who left financial accounts in their native country, or inherited accounts there after immigrating to the U.S. These taxpayers immigrated from countries such as India, China, Singapore, Israel, or Australia. Many other U.S. taxpayers have financial accounts in foreign countries such as Switzerland, Germany, or Lichtenstein. All of these U.S. taxpayers need to comply