Go to my main blog for a post on a call I received this morning from a gentleman who missed the deadline for disclosing signature control over a foreign bank account:
- Low balance in the account — high enough to trigger the reporting requirement but low enough so you wonder why the IRS would even care;
- It’s his mom’s money, not his; and
- He learned about the FBAR problem after the deadline of 15-Oct-09.
There are a lot of you out there — people who didn’t know about the FBAR problems — that you have to report the existence of foreign accounts over which you have ownership or control. Keep reading. I will be putting most of the new stuff on the firm’s main website but will put cross-links here so you can find your way.
Call us. We can help you with the “I’m late to the FBAR party, what do I do?” problem. My mobile phone is +1-626-437-2500.
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