In 2010, the IRS instituted FATCA the Foreign Account Tax Compliance Act to ensure taxpayers and banks and financial institutions fully disclose the extent of the financial assets they hold abroad. Non-compliance could mean penalties that are more than the unreported foreign assets. The bottom line: offshore tax collection is a government priority that is here to stay and if you have offshore tax problems, you need expert tax resolution help.

A recent Forbes article by Robert Wood titled: “IRS has Gone Wild Over FATCA but Watchdog Warns of Compliance Glitches”, cites a new government report that showed taxpayer data exchanges

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