Tax
Oct. 29, 2016
Beware foreign account reporting changes
Some offshore account reporting is changing, although the civil - and potential criminal - penalties are still frighteningly high. By Robert W. Wood
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Some offshore account reporting is changing, although the civil - and potential criminal - penalties are still frighteningly high. American citizens and residents with any non-U.S. bank or financial accounts - or any non-U.S. assets for that matter - have been grappling with myriad changes over the last handful of years. It can sometimes feel like the Internal Revenue Service does not want to you have anything anywhere that is no...
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