Fluent in English, Spanish & Italian | 888-882-9243

call us toll free: 888-8TAXAID

GAO Reports a Big Increase in FBAR Reporting – Maybe It Is A Result of IRS Enforcement Efforts?

The number of American taxpayers reporting foreign accounts to the Internal Revenue Service (IRS) doubled to 516,000 between 2007 and 2010, according to the US Congress' General Audit Office (GAO).

The GAO investigation also found that 6 per cent of US taxpayers who took up the IRS' 2009 offshore tax amnesty received penalties of USD1 million or more, and most of them had accounts at the Swiss bank UBS.

Have Un-Reported Income From A Foreign Bank?
 
Need Experienced Tax Advise?
 
Contact the Tax Lawyers at Marini & Associates, P.A.
 
for a FREE Tax Consultation Contact Us at:


Toll Free at 888-8TaxAid (888 882-9243


 Sources:

GAO statement


GAO Report (PDF file)

Reuters

Read more at: Tax Times blog

 
Get Help Now!
CALL FOR TAX RELIEF!
It's fast. It's free. It's confidential.
888 8TAXAID
(888) 882-9243

Comments are closed.