FBAR

          The willful failure to file the FBAR report or maintain records of your
 foreign accounts can potentially lead to a ten-year prison sentence 

and
 fines of up to $500,000. This criminal penalty applies to all US citizens
 pursuant to 31U.S.C Section S322B and 31 C.F.R. Section 103.S.9.C It may
 also apply to persons living in the United States who are not citizens.

If you fail to answer the question truthfully on schedule B of your Form
1040 which asks if you “have an interest in or a signature or other
authority over a financial account in a foreign country”, then your false
 statement might be deemed a criminal offense by the IRS per the sections
 mentioned above if other surrounding facts and circumstances apply.

If you filed your amnesty request you have now admitted to committing a tax crime. Now the hard part comes. Should you opt out to get a better result?

If you filed your amnesty forms you have now admitted to a criminal offense. What is the best strategy to utilize to deal with the IRS to minimize the chance for a criminal prosecution? What is the best strategy to deal with the IRS NOW to minimize your fines?YOU need answers now.

Our office is headed by a former international tax IRS agent
 with 37 years experience as a CPA and Associate Professor of accounting.
Call our office immediately for a free five-minute consultation so you can
 avoid the dire circumstances described above and deal with the other
 associated problems.

Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, abusive tax shelters, international tax, and other subjects. He writes about FBAR,OVDI, International taxes, captive insurance plans and other topics. He speaks at more than ten conventions annually, writes for over fifty publications, is quoted regularly in the press and has been featured on television and radio financial talk shows including NBC, National Pubic Radio’s All Things Considered, and others. Lance has written numerous books including Protecting Clients from Fraud, Incompetence and Scams published by John Wiley and Sons, Bisk Education’s CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation, as well as the AICPA best-selling books, including Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots. He does expert witness testimony and has never lost a case. Contact him at 516.938.5007, lawallach@aol.com,lanwalla@aol.com or visit www.taxadvisorexpert.com.

The information provided herein is not intended as legal, accounting, financial or any type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.