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Thanks ATE

Hi,

I have been gathering info regarding the disclosure and filing of delinquent fbar's and tax returns. There is a new Streamlined procedure 2014 whereby tax payer needs to pay only 5% penalty...

Hello,

I figured out that interest on those accounts was also unreported, since we were unaware of foreign banks needs to be reported. Interest was around $2000 each year. What to do now ?
Also,...

Hello,

My brother(US Resident) is a full time student pursuing a Bachelor Degree course. He received financial aid FAFSA Pell Grant for fall 2014 to mid 2015. Although he utilized grants for...

Hi,

I just figured out that my brother who is a student is the owner of one of the accounts that exceeds $10,000. He don't have a job since arriving to US and is showed as a dependent. Since, he...

One thing I don't understand, why US govt is after our money which is not earned here. We never transferred that money from here to those accounts. Also, those assets are taxed by foreign govt. ...

Thanks again MidAtlantic and AtlantaTaxExpert, appreceiated. I got one more question :

What kind of accounts are required to be shown for FBAR and reporting earned interest ? NRI accounts (NRE and...

Hi,

What if someone don't have a job here in US or not enough wages earned for meet tax filing requirements, so he is not required to file his US tax return, still FBAR is required to file for...

Yeah there were interest around $3000 aggregate. We don't want to hide anything and want to be on safer side, correct our mistakes that were committed due to lack of knowledge.

Something like...

Thanks Mid-Atlantic and AtlantaTaxExpert, hope what ever you are saying comes out favorable for us. These days where ever I am reading about FBAR and its late filing, penalties seems to be huge.
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Hi,

I came in US in Sept 2012 on Green Card with my family. My mother doesn't work here so her taxes are files jointly with my father's (has a job) tax return filing since 2012. Me and my father...